2,368 Shares in AppLovin Co. (NASDAQ:APP) Bought by Titleist Asset Management LLC

Titleist Asset Management LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,368 shares of the company’s stock, valued at approximately $767,000.

Several other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its holdings in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC increased its position in AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after purchasing an additional 33 shares during the period. Truvestments Capital LLC raised its stake in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after buying an additional 38 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $219.37 on Monday. The company has a market capitalization of $74.58 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company’s 50 day simple moving average is $342.89 and its 200 day simple moving average is $289.58.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APP. Arete Research set a $200.00 price objective on AppLovin in a report on Wednesday, March 5th. Bank of America upped their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. UBS Group increased their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 target price on shares of AppLovin in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $435.47.

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.