AppLovin Co. (NASDAQ:APP) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its stake in AppLovin Co. (NASDAQ:APP) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,619 shares of the company’s stock after acquiring an additional 218 shares during the quarter. Amalgamated Bank’s holdings in AppLovin were worth $5,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APP. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter worth about $25,000. Hemington Wealth Management raised its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Bogart Wealth LLC purchased a new stake in shares of AppLovin during the fourth quarter worth approximately $37,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APP. BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group upped their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $452.29.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 224,872 shares of company stock valued at $82,158,554 over the last quarter. 14.69% of the stock is owned by company insiders.

AppLovin Price Performance

NASDAQ:APP opened at $320.49 on Friday. The stock’s fifty day moving average is $368.10 and its two-hundred day moving average is $251.23. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $107.55 billion, a P/E ratio of 70.59, a P/E/G ratio of 3.02 and a beta of 2.30. AppLovin Co. has a 52 week low of $57.40 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last announced its 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 net margin of 33.54% and a return on equity of 188.55%. Equities analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

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.