4,052 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,052 shares of the company’s stock, valued at approximately $1,312,000.

Several other large investors also recently added to or reduced their stakes in the business. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the 4th quarter valued at $2,137,000. SeaCrest Wealth Management LLC bought a new position in AppLovin during the fourth quarter valued at about $872,000. Quantum Financial Advisors LLC acquired a new stake in shares of AppLovin in the fourth quarter worth about $307,000. FNY Investment Advisers LLC bought a new stake in shares of AppLovin during the 4th quarter worth about $158,000. Finally, Signet Financial Management LLC acquired a new position in shares of AppLovin during the 4th quarter valued at about $317,000. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 in the last quarter. 14.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their target price on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Jefferies Financial Group upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Bank of America lifted their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Loop Capital upped their price target on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $355.41.

AppLovin Stock Performance

NASDAQ APP opened at $362.52 on Friday. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $121.66 billion, a P/E ratio of 109.85, a PEG ratio of 2.77 and a beta of 2.29. The company’s 50-day simple moving average is $335.97 and its 200 day simple moving average is $195.69.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. As a group, research analysts forecast that AppLovin Co. will post 4.06 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.