AppLovin Co. (NASDAQ:APP) Shares Acquired by Huntington National Bank

Huntington National Bank boosted its holdings in AppLovin Co. (NASDAQ:APP) by 330.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 448 shares of the company’s stock after purchasing an additional 344 shares during the quarter. Huntington National Bank’s holdings in AppLovin were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in APP. SVB Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. boosted 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 acquiring an additional 4,010,520 shares during the last quarter. Norges Bank purchased a new stake in AppLovin during the fourth quarter valued at about $828,138,000. Arrowstreet Capital Limited Partnership increased its stake in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after acquiring an additional 2,373,885 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of AppLovin by 193.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company’s stock worth $882,469,000 after purchasing an additional 1,797,027 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $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 is available at this link. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APP. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. Finally, Piper Sandler raised their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $435.47.

AppLovin Stock Performance

Shares of AppLovin stock opened at $219.37 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm’s 50-day simple moving average is $342.89 and its 200-day simple moving average is $288.42. The firm has a market cap of $74.58 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that AppLovin Co. will post 6.87 earnings per share 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.