Neuberger Berman Group LLC Has $132.95 Million Stake in AppLovin Co. (NASDAQ:APP)

Neuberger Berman Group LLC boosted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 60.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 410,545 shares of the company’s stock after acquiring an additional 154,241 shares during the period. Neuberger Berman Group LLC’s holdings in AppLovin were worth $132,947,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its position in AppLovin by 38.8% during the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock valued at $3,286,000 after buying an additional 7,039 shares during the period. Oxinas Partners Wealth Management LLC purchased a new stake in shares of AppLovin in the fourth quarter worth about $1,081,000. Virtu Financial LLC purchased a new stake in shares of AppLovin in the third quarter worth about $3,211,000. Franchise Capital Ltd bought a new stake in AppLovin during the fourth quarter valued at approximately $2,811,000. Finally, Orion Portfolio Solutions LLC lifted its position in AppLovin by 35.9% during the third quarter. Orion Portfolio Solutions LLC now owns 22,933 shares of the company’s stock valued at $2,994,000 after purchasing an additional 6,058 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Bank of America lifted their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. UBS Group upped their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised 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. Finally, Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $427.47.

Insider Transactions at AppLovin

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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction that occurred 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 directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

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

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 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 earnings per share for the current fiscal 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.