Itau Unibanco Holding S.A. Buys 266 Shares of AppLovin Co. (NASDAQ:APP)

Itau Unibanco Holding S.A. raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 633.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308 shares of the company’s stock after purchasing an additional 266 shares during the period. Itau Unibanco Holding S.A.’s holdings in AppLovin were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in APP. FMR LLC increased its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of AppLovin in the fourth quarter valued at $1,781,922,000. Baillie Gifford & Co. increased its position in AppLovin by 5,421.4% in the fourth 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 during the last quarter. Norges Bank bought a new stake in AppLovin in the fourth quarter worth $828,138,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 3.8 %

Shares of NASDAQ:APP opened at $279.49 on Friday. 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 business’s 50 day moving average is $278.21 and its 200 day moving average is $303.70. The stock has a market cap of $95.01 billion, a P/E ratio of 61.56, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

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

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,900 shares of company stock valued at $106,401,841. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APP. Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. The Goldman Sachs Group cut their target price on AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley upgraded AppLovin from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $470.00 to $350.00 in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $415.15.

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.