Intech Investment Management LLC Has $22 Million Stake in AppLovin Co. (NASDAQ:APP)

Intech Investment Management LLC raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 209.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 67,945 shares of the company’s stock after buying an additional 46,020 shares during the period. Intech Investment Management LLC’s holdings in AppLovin were worth $22,003,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in APP. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter worth approximately $27,000. Riverview Trust Co boosted its stake in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Hemington Wealth Management boosted its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 4.8 %

Shares of NASDAQ:APP opened at $306.85 on Tuesday. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The firm has a fifty day moving average of $356.03 and a 200 day moving average of $270.72. The firm has a market capitalization of $104.32 billion, a PE ratio of 67.59, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 322,871 shares of company stock worth $111,401,882. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Macquarie lifted their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. The Goldman Sachs Group lifted their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday. Finally, UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One equities research 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 a consensus rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Company 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.