Guggenheim Capital LLC Acquires 66,220 Shares of AppLovin Co. (NASDAQ:APP)

Guggenheim Capital LLC increased its holdings in AppLovin Co. (NASDAQ:APP) by 361.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,522 shares of the company’s stock after purchasing an additional 66,220 shares during the quarter. Guggenheim Capital LLC’s holdings in AppLovin were worth $27,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at about $25,000. Riverview Trust Co lifted its stake in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC bought a new stake in AppLovin in the fourth quarter valued at approximately $28,000. Hemington Wealth Management increased its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp raised its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the subject of a number of analyst reports. Loop Capital reissued a “buy” rating and set a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. FBN Securities assumed coverage on AppLovin in a research report on Friday, March 28th. They issued an “outperform” rating and a $385.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $424.84.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’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 completion of 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 ninety days, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by insiders.

AppLovin Stock Down 5.6 %

APP stock opened at $236.07 on Tuesday. The stock’s 50 day moving average is $324.56 and its 200-day moving average is $295.32. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market capitalization of $80.25 billion, a PE ratio of 52.00, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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 analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.