United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New Investment in AppLovin Co. (NASDAQ:APP)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, Holdings Channel.com reports. The firm acquired 1,000 shares of the company’s stock, valued at approximately $324,000.

A number of other large investors have also made changes to their positions in APP. FMR LLC grew its stake in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. SVB Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at $1,781,922,000. Baillie Gifford & Co. increased its stake 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 purchasing an additional 4,010,520 shares during the last quarter. Raymond James Financial Inc. purchased a new position in AppLovin during the fourth quarter worth about $535,070,000. Finally, Jennison Associates LLC purchased a new stake in AppLovin in the 4th quarter valued at about $414,462,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the 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 transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on APP shares. Loop Capital raised their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. 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 note on Wednesday, February 19th. Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Trading Down 5.4 %

NASDAQ APP opened at $327.62 on Thursday. The stock has a market cap of $111.38 billion, a P/E ratio of 72.16, a PEG ratio of 3.02 and a beta of 2.33. The company’s fifty day simple moving average is $354.67 and its 200-day simple moving average is $280.55. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 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%. Equities research analysts predict 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.