Caisse DE Depot ET Placement DU Quebec Acquires 14,274 Shares of AppLovin Co. (NASDAQ:APP)

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 487,376 shares of the company’s stock after acquiring an additional 14,274 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in AppLovin were worth $63,627,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of APP. B. Riley Wealth Advisors Inc. bought a new stake in AppLovin in the first quarter valued at approximately $474,000. Tidal Investments LLC acquired a new position in shares of AppLovin in the 1st quarter worth approximately $236,000. Swedbank AB bought a new stake in shares of AppLovin in the 1st quarter valued at $870,000. Cetera Advisors LLC acquired a new stake in shares of AppLovin during the first quarter worth $675,000. Finally, DekaBank Deutsche Girozentrale raised its stake in AppLovin by 4,123.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 128,222 shares of the company’s stock worth $8,726,000 after buying an additional 125,186 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the sale, the chief financial officer now directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 884,395 shares of company stock valued at $243,101,629 in the last three months. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APP. Loop Capital increased their price target on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Bank of America raised their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Citigroup raised their price objective on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.57.

AppLovin Trading Up 2.5 %

NASDAQ APP opened at $336.75 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a fifty day simple moving average of $201.91 and a 200 day simple moving average of $126.00. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $344.77. The firm has a market capitalization of $113.01 billion, a P/E ratio of 102.05, a PEG ratio of 4.05 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business 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%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. On average, analysts predict that AppLovin Co. will post 4.06 EPS 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.