Berkshire Capital Holdings Inc. Acquires 35,580 Shares of AppLovin Co. (NASDAQ:APP)

Berkshire Capital Holdings Inc. grew its holdings in AppLovin Co. (NASDAQ:APP) by 355,800.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,590 shares of the company’s stock after buying an additional 35,580 shares during the quarter. AppLovin accounts for 4.2% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 9th largest position. Berkshire Capital Holdings Inc.’s holdings in AppLovin were worth $11,525,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in APP. Maestria Partners LLC acquired a new position in shares of AppLovin during the 4th quarter worth about $14,230,000. iA Global Asset Management Inc. increased its stake in AppLovin by 351.5% during the 4th quarter. iA Global Asset Management Inc. now owns 36,437 shares of the company’s stock worth $11,799,000 after buying an additional 28,366 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of AppLovin during the fourth quarter valued at approximately $19,557,000. Sandy Spring Bank lifted its position in shares of AppLovin by 58.1% in the fourth quarter. Sandy Spring Bank now owns 272 shares of the company’s stock valued at $88,000 after acquiring an additional 100 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in shares of AppLovin by 10.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 110,065 shares of the company’s stock worth $35,642,000 after acquiring an additional 10,089 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the subject of several recent research reports. Citigroup boosted their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. Oppenheimer reissued an “outperform” rating and set a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Finally, Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $438.28.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % 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 this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Up 6.5 %

Shares of NASDAQ APP opened at $297.03 on Thursday. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The stock has a market cap of $100.98 billion, a P/E ratio of 65.43, a PEG ratio of 3.02 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s fifty day simple moving average is $354.37 and its 200-day simple moving average is $272.20.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal 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.