O Shaughnessy Asset Management LLC Has $131.61 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

O Shaughnessy Asset Management LLC lifted its position in AppLovin Co. (NASDAQ:APP) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 406,405 shares of the company’s stock after purchasing an additional 5,087 shares during the period. AppLovin comprises approximately 1.1% of O Shaughnessy Asset Management LLC’s portfolio, making the stock its 10th biggest holding. O Shaughnessy Asset Management LLC’s holdings in AppLovin were worth $131,606,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in APP. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $25,000. Riverview Trust Co raised its holdings in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in AppLovin in the fourth quarter worth $28,000. Hemington Wealth Management increased its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp raised its holdings in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on APP shares. Oppenheimer reaffirmed an “outperform” rating on shares of AppLovin in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Benchmark raised their price objective on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Price Performance

Shares of NASDAQ APP opened at $272.38 on Friday. The company has a 50 day moving average of $351.86 and a 200 day moving average of $283.07. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market cap of $92.60 billion, a P/E ratio of 60.00, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate 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, research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.