PDS Planning Inc Buys Shares of 1,056 AppLovin Co. (NASDAQ:APP)

PDS Planning Inc bought a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,056 shares of the company’s stock, valued at approximately $342,000.

Other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC lifted its stake in AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $224,000. State Street Corp raised its stake in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management raised its stake in shares of AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after purchasing an additional 81,331 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

APP opened at $278.84 on Wednesday. The firm has a market cap of $94.79 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. 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 business’s fifty day moving average is $355.01 and its 200-day moving average is $272.03.

AppLovin (NASDAQ:APP) last released its earnings results 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%. Sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Piper Sandler upped their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 322,871 shares of company stock valued at $111,401,882 over the last ninety days. 14.69% of the stock is owned by corporate insiders.

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.