Whittier Trust Co. of Nevada Inc. Takes $41,000 Position in AppLovin Co. (NASDAQ:APP)

Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 126 shares of the company’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC grew its holdings in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. SVB Wealth LLC bought a new position in shares of AppLovin in the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. grew its stake in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $535,070,000. Finally, Jennison Associates LLC bought a new position in AppLovin in the 4th quarter valued at $414,462,000. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents 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 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 8.2 %

Shares of APP stock opened at $339.72 on Tuesday. 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 business has a 50-day moving average of $354.31 and a 200 day moving average of $278.37. The stock has a market capitalization of $115.49 billion, a PE ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on APP. Piper Sandler boosted their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Citigroup upped their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Macquarie lifted their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $438.28.

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.