United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $324,000 Position in AppLovin Co. (NASDAQ:APP)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the company’s stock, valued at approximately $324,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its position in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Truvestments Capital LLC boosted its holdings in AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after purchasing an additional 38 shares in the last quarter. National Bank of Canada FI increased its stake in AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares during the last quarter. Hemington Wealth Management raised its holdings in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $327.62 on Thursday. 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 50 day moving average is $354.67 and its two-hundred day moving average is $280.55. The stock has a market capitalization of $111.38 billion, a price-to-earnings ratio of 72.16, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Arete Research set a $200.00 target price on AppLovin in a report on Wednesday, March 5th. Benchmark raised their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Macquarie boosted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Loop Capital raised their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The stock was 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 of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were 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 in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. 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. Corporate insiders own 14.69% of the company’s stock.

About AppLovin

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.