Blue Trust Inc. Increases Holdings in AppLovin Co. (NASDAQ:APP)

Blue Trust Inc. raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 2,032.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,132 shares of the company’s stock after buying an additional 2,032 shares during the quarter. Blue Trust Inc.’s holdings in AppLovin were worth $85,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in APP. BluePath Capital Management LLC bought a new stake in shares of AppLovin in the 3rd quarter worth $33,000. Tower Research Capital LLC TRC increased its holdings in shares of AppLovin by 86.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock worth $37,000 after purchasing an additional 429 shares in the last quarter. Castleview Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter worth $38,000. JPMorgan Chase & Co. increased its holdings in shares of AppLovin by 99.0% in the 1st quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock worth $54,000 after purchasing an additional 488 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of AppLovin in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group lifted their target price on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Wedbush lifted their price objective on AppLovin from $58.50 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. HSBC initiated coverage on AppLovin in a report on Monday, December 18th. They issued a “buy” rating and a $53.20 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.04.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the sale, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now directly owns 12,739 shares of the company’s stock, valued at $743,065.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The disclosure for this sale can be found here. Insiders have sold 11,215 shares of company stock valued at $666,315 over the last ninety days. 12.43% of the stock is owned by insiders.

AppLovin Price Performance

Shares of AppLovin stock opened at $72.78 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $24.89 billion, a price-to-earnings ratio of 72.78, a PEG ratio of 1.40 and a beta of 1.90. AppLovin Co. has a 52 week low of $15.25 and a 52 week high of $75.83. The stock’s 50-day simple moving average is $58.93 and its 200-day simple moving average is $46.32.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) earnings per share. As a group, analysts expect that AppLovin Co. will post 2.48 earnings per share for the current fiscal year.

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.