O Neil Global Advisors Inc. Has $5.32 Million Position in AppLovin Co. (NASDAQ:APP)

O Neil Global Advisors Inc. increased its stake in AppLovin Co. (NASDAQ:APP) by 157.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,428 shares of the company’s stock after buying an additional 10,059 shares during the period. AppLovin accounts for 1.6% of O Neil Global Advisors Inc.’s portfolio, making the stock its 8th largest position. O Neil Global Advisors Inc.’s holdings in AppLovin were worth $5,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. WCM Investment Management LLC grew its holdings in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. FMR LLC lifted its stake in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. State Street Corp lifted its stake in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares in the last quarter. Baillie Gifford & Co. lifted its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The stock was 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 approximately $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 30,330 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total value of $10,029,221.10. Following the completion of the transaction, the director now directly owns 90,576 shares in the company, valued at approximately $29,950,765.92. The trade was a 25.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 196,302 shares of company stock worth $65,305,354. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on APP shares. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Macquarie upped their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Oppenheimer reissued an “outperform” rating and set a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $442.18.

AppLovin Price Performance

Shares of AppLovin stock opened at $450.01 on Friday. The stock has a market capitalization of $151.02 billion, a P/E ratio of 99.12, a PEG ratio of 3.61 and a beta of 2.30. 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 moving average price is $363.77 and its 200 day moving average price is $240.83. AppLovin Co. has a twelve month low of $54.50 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last posted 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 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 earnings per share 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.