Meeder Asset Management Inc. Sells 105 Shares of AppLovin Co. (NASDAQ:APP)

Meeder Asset Management Inc. lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 51.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99 shares of the company’s stock after selling 105 shares during the period. Meeder Asset Management Inc.’s holdings in AppLovin were worth $32,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. SVB Wealth LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at about $1,781,922,000. Baillie Gifford & Co. lifted its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Norges Bank acquired a new position in AppLovin during the 4th quarter worth approximately $828,138,000. Arrowstreet Capital Limited Partnership grew its stake in shares of AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $535,070,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $290.39 on Thursday. The company has a market capitalization of $98.72 billion, a price-to-earnings ratio of 63.96, a PEG ratio of 3.02 and a beta of 2.33. The stock’s 50 day moving average is $347.77 and its 200-day moving average is $286.73. 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 $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. Equities research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on APP shares. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Oppenheimer reaffirmed an “outperform” rating on shares of AppLovin in a research report on Thursday, March 27th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Finally, Citigroup boosted their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $435.47.

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.