Ieq Capital LLC Has $12.81 Million Position in AppLovin Co. (NASDAQ:APP)

Ieq Capital LLC lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 16.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 39,562 shares of the company’s stock after selling 7,718 shares during the period. Ieq Capital LLC’s holdings in AppLovin were worth $12,811,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in APP. FMR LLC increased its stake in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Baillie Gifford & Co. increased its stake in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Jennison Associates LLC bought a new stake in AppLovin in the fourth quarter valued at about $414,462,000. WCM Investment Management LLC increased its stake in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. Finally, Janus Henderson Group PLC increased its stake in AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after acquiring an additional 560,560 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Down 0.4 %

Shares of NASDAQ APP opened at $494.17 on Thursday. The company’s 50 day simple moving average is $361.30 and its 200 day simple moving average is $239.37. AppLovin Co. has a fifty-two week low of $54.50 and a fifty-two week high of $525.15. The firm has a market capitalization of $165.84 billion, a P/E ratio of 108.85, a P/E/G ratio of 3.84 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced 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 net margin of 33.54% and a return on equity of 188.55%. On average, analysts predict that AppLovin Co. will post 6.64 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the sale, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,403 shares of company stock worth $72,325,024 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on APP shares. Loop Capital upped their price objective on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. The Goldman Sachs Group upped their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Finally, Piper Sandler upped their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $430.41.

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.