Neuberger Berman Group LLC Acquires 154,241 Shares of AppLovin Co. (NASDAQ:APP)

Neuberger Berman Group LLC boosted its stake in AppLovin Co. (NASDAQ:APP) by 60.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 410,545 shares of the company’s stock after purchasing an additional 154,241 shares during the quarter. Neuberger Berman Group LLC owned about 0.12% of AppLovin worth $132,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in APP. Scotia Capital Inc. purchased a new position in shares of AppLovin during the fourth quarter worth about $387,000. CenterBook Partners LP bought a new stake in AppLovin during the 4th quarter valued at approximately $9,027,000. DRW Securities LLC purchased a new position in shares of AppLovin in the 4th quarter worth approximately $1,373,000. APG Asset Management US Inc. purchased a new position in AppLovin during the 4th quarter valued at $2,120,000. Finally, Fernwood Investment Management LLC bought a new stake in AppLovin during the 4th quarter valued at $1,398,000. 41.85% of the stock is currently owned by institutional investors.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on 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 approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APP. JPMorgan Chase & Co. upped their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company cut their target price on AppLovin from $538.00 to $386.00 and set an “overweight” rating on the stock in a research report on Tuesday. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Piper Sandler boosted their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $427.47.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $274.96 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $93.47 billion, a price-to-earnings ratio of 60.56, a PEG ratio of 3.02 and a beta of 2.39. The company has a 50 day simple moving average of $331.84 and a two-hundred day simple moving average of $291.64. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

AppLovin Company Profile

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.