AppLovin Co. (NASDAQ:APP) Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC reduced its position in shares of AppLovin Co. (NASDAQ:APP) by 31.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,420 shares of the company’s stock after selling 2,013 shares during the period. Applied Finance Capital Management LLC’s holdings in AppLovin were worth $1,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its position in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC grew its position in AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after purchasing an additional 33 shares in the last quarter. Truvestments Capital LLC raised its stake in AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after purchasing an additional 38 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 5.9 %

APP opened at $232.22 on Tuesday. The firm has a market cap of $78.95 billion, a P/E ratio of 51.15, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business has a 50 day moving average price of $340.67 and a 200 day moving average price of $290.34. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APP shares. Piper Sandler lifted their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Finally, Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $435.47.

Insider Activity

In other news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by insiders.

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.