Berkshire Capital Holdings Inc. Purchases 35,580 Shares of AppLovin Co. (NASDAQ:APP)

Berkshire Capital Holdings Inc. raised its position in AppLovin Co. (NASDAQ:APP) by 355,800.0% in the 4th quarter, Holdings Channel reports. The fund owned 35,590 shares of the company’s stock after acquiring an additional 35,580 shares during the period. AppLovin accounts for approximately 4.2% of Berkshire Capital Holdings Inc.’s holdings, making the stock its 9th biggest position. Berkshire Capital Holdings Inc.’s holdings in AppLovin were worth $11,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new position in AppLovin in the fourth quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth $27,000. Riverview Trust Co increased its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the fourth 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 boosted its holdings in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated 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 trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’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 of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Loop Capital lifted their price target on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler lifted their price target 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 reissued an “outperform” rating and issued a $560.00 price objective (up 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 issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Stock Performance

NASDAQ:APP opened at $297.03 on Thursday. 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 $60.67 and a 1-year high of $525.15. The firm has a 50-day moving average of $354.37 and a two-hundred day moving average of $272.20. The stock has a market cap of $100.98 billion, a P/E ratio of 65.43, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. On average, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal 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.