AppLovin Co. (NASDAQ:APP) Stake Trimmed by EPIQ Capital Group LLC

EPIQ Capital Group LLC cut its position in AppLovin Co. (NASDAQ:APP) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,564 shares of the company’s stock after selling 3,718 shares during the period. AppLovin comprises 3.3% of EPIQ Capital Group LLC’s portfolio, making the stock its 10th largest holding. EPIQ Capital Group LLC’s holdings in AppLovin were worth $12,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of AppLovin by 150.6% during the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock worth $133,000 after purchasing an additional 613 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in AppLovin during the 3rd quarter valued at approximately $25,000. CWA Asset Management Group LLC purchased a new stake in AppLovin during the 3rd quarter valued at approximately $1,730,000. Verdence Capital Advisors LLC raised its position in shares of AppLovin by 128.9% during the third quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company’s stock valued at $1,439,000 after buying an additional 6,206 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of AppLovin by 131.8% in the third quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock worth $1,258,000 after buying an additional 5,480 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,047 shares of company stock valued at $140,390,817 in the last quarter. 14.69% of the stock is owned by insiders.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $270.48 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15. The company has a market capitalization of $90.77 billion, a price-to-earnings ratio of 59.58, a PEG ratio of 3.02 and a beta of 2.33. The firm’s 50-day moving average is $363.84 and its 200 day moving average is $262.97.

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 predict that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APP. Bank of America lifted their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Loop Capital lifted their target price on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Arete Research upgraded AppLovin to a “strong sell” rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $452.29.

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.