Lindbrook Capital LLC Increases Holdings in AppLovin Co. (NASDAQ:APP)

Lindbrook Capital LLC grew its holdings in shares of AppLovin Co. (NASDAQ:APP) by 26.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,337 shares of the company’s stock after purchasing an additional 281 shares during the quarter. Lindbrook Capital LLC’s holdings in AppLovin were worth $53,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in APP. BluePath Capital Management LLC bought a new position in shares of AppLovin during the 3rd quarter worth $33,000. Castleview Partners LLC bought a new position in shares of AppLovin during the 3rd quarter worth $38,000. Cullen Frost Bankers Inc. bought a new position in shares of AppLovin during the 3rd quarter worth $44,000. Robeco Institutional Asset Management B.V. bought a new position in shares of AppLovin during the 3rd quarter worth $45,000. Finally, Acadian Asset Management LLC bought a new position in shares of AppLovin during the 3rd quarter worth $59,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $69.21 on Friday. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of 69.21, a P/E/G ratio of 1.43 and a beta of 1.90. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin Co. has a 1-year low of $15.61 and a 1-year high of $79.55. The stock’s 50-day moving average is $66.85 and its 200 day moving average is $49.74.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. AppLovin’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.21) EPS. On average, sell-side analysts anticipate that AppLovin Co. will post 2.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now directly owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now directly owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 in the last ninety days. Company insiders own 12.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on APP shares. Daiwa Capital Markets started coverage on AppLovin in a research note on Monday, April 15th. They issued a “neutral” rating and a $80.00 target price for the company. BTIG Research raised their target price on AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Oppenheimer raised their target price on AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, UBS Group raised their target price on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.31.

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.