Certuity LLC Takes $416,000 Position in AppLovin Co. (NASDAQ:APP)

Certuity LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,285 shares of the company’s stock, valued at approximately $416,000.

Several other hedge funds have also added to or reduced their stakes in APP. WCM Investment Management LLC increased its holdings in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. FMR LLC increased its stake in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. State Street Corp raised its holdings in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the period. Geode Capital Management LLC lifted its stake in AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after buying an additional 449,241 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in AppLovin by 1.3% in the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock valued at $462,077,000 after buying an additional 46,854 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 1.4 %

AppLovin stock opened at $380.32 on Thursday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company’s 50-day moving average is $347.30 and its 200-day moving average is $224.62. The firm has a market capitalization of $127.63 billion, a PE ratio of 115.25, a P/E/G ratio of 3.10 and a beta of 2.30. AppLovin Co. has a fifty-two week low of $45.12 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results 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 return on equity of 122.24% and a net margin of 26.85%. Sell-side analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the sale, the director now owns 2,987 shares of the company’s stock, valued at $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 828,991 shares of company stock worth $267,640,144. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

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.