Snowden Capital Advisors LLC Acquires 503 Shares of AppLovin Co. (NASDAQ:APP)

Snowden Capital Advisors LLC grew its holdings in AppLovin Co. (NASDAQ:APP) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,274 shares of the company’s stock after buying an additional 503 shares during the period. Snowden Capital Advisors LLC’s holdings in AppLovin were worth $1,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shell Asset Management Co. raised its stake in AppLovin by 55.4% in the 4th quarter. Shell Asset Management Co. now owns 6,912 shares of the company’s stock valued at $2,238,000 after acquiring an additional 2,463 shares during the period. Royal Bank of Canada raised its position in shares of AppLovin by 130.4% in the fourth quarter. Royal Bank of Canada now owns 890,396 shares of the company’s stock valued at $288,337,000 after purchasing an additional 503,956 shares during the period. Rafferty Asset Management LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $12,205,000. ProShare Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter worth about $109,760,000. Finally, Quadcap Wealth Management LLC bought a new stake in shares of AppLovin during the 4th quarter worth about $399,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Down 1.2%

Shares of APP stock opened at $362.34 on Monday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $123.18 billion, a P/E ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock’s fifty day simple moving average is $285.14 and its 200 day simple moving average is $319.52.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,119,470 shares of company stock worth $409,752,180. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. FBN Securities assumed coverage on AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 price target for the company. Piper Sandler increased their price objective on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. UBS Group lifted their target price on AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group raised their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $433.85.

AppLovin 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.