O Shaughnessy Asset Management LLC lifted its position in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 64,659 shares of the company’s stock after purchasing an additional 1,322 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in AppLovin were worth $43,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of APP. Board of the Pension Protection Fund acquired a new position in shares of AppLovin during the 4th quarter worth about $27,000. Washington Trust Advisors Inc. increased its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin during the 4th quarter worth about $32,000. CBIZ Investment Advisory Services LLC increased its stake in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter. Finally, Graney & King LLC acquired a new position in shares of AppLovin during the 3rd quarter worth about $36,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.
AppLovin Stock Performance
Shares of APP stock opened at $557.20 on Monday. The company has a market capitalization of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a 50-day simple moving average of $470.43 and a 200 day simple moving average of $521.30. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Benchmark restated a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of AppLovin in a report on Thursday, May 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Piper Sandler lifted their target price on shares of AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $664.35.
Read Our Latest Research Report on APP
Insider Transactions at AppLovin
In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the sale, the chief executive officer owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. This represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 467,092 shares of company stock worth $220,268,340. Company insiders own 13.66% of the company’s stock.
AppLovin Profile
AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.
Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.
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