AppLovin Co. (NASDAQ:APP) Holdings Lifted by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of AppLovin Co. (NASDAQ:APP) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,958 shares of the company’s stock after buying an additional 22,680 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of AppLovin worth $89,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Florida Financial Advisors LLC acquired a new position in shares of AppLovin during the fourth quarter valued at $246,000. Sheets Smith Investment Management acquired a new position in AppLovin during the 4th quarter valued at about $3,262,000. Corebridge Financial Inc. raised its position in shares of AppLovin by 381.6% during the 4th quarter. Corebridge Financial Inc. now owns 24,258 shares of the company’s stock worth $7,855,000 after buying an additional 19,221 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of AppLovin by 55.6% in the 4th quarter. Emerald Advisers LLC now owns 5,186 shares of the company’s stock worth $1,679,000 after acquiring an additional 1,853 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of AppLovin by 9.2% in the fourth quarter. LPL Financial LLC now owns 210,530 shares of the company’s stock valued at $68,176,000 after acquiring an additional 17,754 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on APP shares. Bank of America boosted their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Loop Capital upped their price objective on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler lifted their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Citigroup boosted their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $438.28.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by company insiders.

AppLovin Trading Up 8.2 %

NASDAQ:APP opened at $339.72 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $115.49 billion, a P/E ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. The stock’s 50 day moving average price is $354.31 and its 200 day moving average price is $278.37. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, research analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.