35,241 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel reports. The firm acquired 35,241 shares of the company’s stock, valued at approximately $12,118,000.

Other large investors also recently modified their holdings of the company. Machina Capital S.A.S. acquired a new stake in AppLovin in the 4th quarter valued at $227,000. Aviance Capital Partners LLC boosted its stake in shares of AppLovin by 28.7% in the 4th quarter. Aviance Capital Partners LLC now owns 2,573 shares of the company’s stock valued at $833,000 after purchasing an additional 573 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of AppLovin in the 4th quarter worth about $552,000. E Fund Management Co. Ltd. acquired a new stake in shares of AppLovin during the 4th quarter worth about $1,208,000. Finally, Candriam S.C.A. bought a new position in AppLovin during the 4th quarter valued at about $4,358,000. 41.85% of the stock is currently owned by institutional investors.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 406,447 shares of company stock worth $140,537,281. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

APP stock opened at $270.48 on Friday. 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 $59.30 and a twelve month high of $525.15. The business’s fifty day moving average is $363.84 and its 200-day moving average is $261.76. The company has a market cap of $90.77 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Finally, Loop Capital upped their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $452.29.

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.