Myriad Asset Management Advisors LLC acquired a new stake in shares of AppLovin Corporation (NASDAQ:APP – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,362 shares of the company’s stock, valued at approximately $1,592,000.
A number of other institutional investors and hedge funds have also modified their holdings of APP. Vanguard Group Inc. boosted its stake in AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after buying an additional 7,051,663 shares in the last quarter. State Street Corp boosted its stake in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Norges Bank acquired a new stake in AppLovin in the 4th quarter valued at $2,040,321,000. Capital Research Global Investors acquired a new stake in AppLovin in the 3rd quarter valued at $743,899,000. Finally, Northern Trust Corp boosted its stake in AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after buying an additional 756,660 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.
AppLovin Price Performance
AppLovin stock opened at $492.98 on Thursday. 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 firm has a market cap of $165.61 billion, a P/E ratio of 42.35, a P/E/G ratio of 0.85 and a beta of 2.45. The business’s fifty day moving average is $479.09 and its two-hundred day moving average is $521.31. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61.
Insider Buying and Selling at AppLovin
In other news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the transaction, the chief technology officer directly owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 306,668 shares of company stock valued at $145,923,868 over the last ninety days. Company insiders own 13.66% of the company’s stock.
Wall Street Analyst Weigh In
APP has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. UBS Group decreased their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup reaffirmed a “buy” rating and issued a $710.00 price target on shares of AppLovin in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $669.62.
Check Out Our Latest Report on AppLovin
Trending Headlines about AppLovin
Here are the key news stories impacting AppLovin this week:
- Positive Sentiment: Citi added AppLovin to its “Upside 90-Day Catalyst Watch,” suggesting a near-term catalyst could help support the stock. Citi Adds “Upside 90-Day Catalyst Watch” on AppLovin Corporation (APP)
- Positive Sentiment: Analyst commentary remains constructive, with recent notes reaffirming bullish ratings and one article highlighting AppLovin’s recent gains and expected EPS growth of more than 40% annually over the next five years. AppLovin Corporation (APP) Up More Than 12% Over the Past Month, Here’s Why it is an Unstoppable Growth Stock
About AppLovin
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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