Logan Capital Management Inc. Has $35.55 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Logan Capital Management Inc. decreased its stake in AppLovin Co. (NASDAQ:APP) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,772 shares of the company’s stock after selling 3,195 shares during the period. AppLovin accounts for about 1.5% of Logan Capital Management Inc.’s holdings, making the stock its 10th biggest holding. Logan Capital Management Inc.’s holdings in AppLovin were worth $35,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Oxinas Partners Wealth Management LLC acquired a new position in AppLovin in the fourth quarter valued at approximately $1,081,000. Barclays PLC raised its position in shares of AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after purchasing an additional 153,248 shares during the period. Tcfg Wealth Management LLC bought a new position in shares of AppLovin in the 4th quarter worth $369,000. Caprock Group LLC grew its position in AppLovin by 42.2% in the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company’s stock valued at $13,648,000 after purchasing an additional 12,500 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new stake in AppLovin during the 4th quarter valued at $382,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

APP stock opened at $328.79 on Monday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $111.77 billion, a PE ratio of 72.42, a P/E/G ratio of 3.02 and a beta of 2.39. The firm has a 50 day simple moving average of $275.55 and a two-hundred day simple moving average of $312.65.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. On average, analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 over the last three months. Insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on APP shares. The Goldman Sachs Group increased their target price on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley boosted their target price on AppLovin from $350.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler upped their target price on AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $433.85.

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.