13,457 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Candriam S.C.A.

Candriam S.C.A. purchased a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 13,457 shares of the company’s stock, valued at approximately $4,358,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC increased its holdings in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. FMR LLC increased its holdings in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. SVB Wealth LLC bought a new stake in AppLovin in the fourth quarter valued at about $1,781,922,000. State Street Corp increased its holdings in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares during the last quarter. Finally, Baillie Gifford & Co. increased its holdings in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction 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 sale, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 406,447 shares of company stock worth $140,537,281 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APP shares. Loop Capital upped their target price on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group upped their target price on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Citigroup upped their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $452.29.

AppLovin Stock Performance

APP opened at $270.48 on Friday. The company has a market capitalization of $90.77 billion, a price-to-earnings ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1-year low of $59.30 and a 1-year high of $525.15. The business has a 50 day moving average price of $363.84 and a two-hundred day moving average price of $261.76.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts predict that AppLovin Co. will post 6.87 EPS 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.