AppLovin Co. (NASDAQ:APP) Shares Bought by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 17,619 shares of the company’s stock after buying an additional 218 shares during the quarter. Amalgamated Bank’s holdings in AppLovin were worth $5,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in AppLovin by 58.0% during the 3rd quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock worth $1,474,000 after purchasing an additional 4,147 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in AppLovin by 1.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock worth $1,741,000 after buying an additional 157 shares during the period. Arkadios Wealth Advisors purchased a new position in AppLovin in the 3rd quarter valued at approximately $292,000. abrdn plc raised its holdings in AppLovin by 784.2% during the third quarter. abrdn plc now owns 49,691 shares of the company’s stock worth $6,487,000 after purchasing an additional 44,071 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its position in AppLovin by 13.9% during the third quarter. Strategic Blueprint LLC now owns 3,140 shares of the company’s stock worth $410,000 after purchasing an additional 383 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APP. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Loop Capital raised their price target on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, Piper Sandler increased their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $452.29.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction 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 in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 224,872 shares of company stock valued at $82,158,554. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

NASDAQ:APP opened at $320.49 on Friday. AppLovin Co. has a fifty-two week low of $57.40 and a fifty-two week high of $525.15. The firm’s 50 day moving average is $368.10 and its two-hundred day moving average is $251.23. The company has a market cap of $107.55 billion, a P/E ratio of 70.59, a P/E/G ratio of 3.02 and a beta of 2.30. 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 announced its quarterly 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%. Analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

AppLovin 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.