Polar Asset Management Partners Inc. Has $28.56 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Polar Asset Management Partners Inc. trimmed its position in AppLovin Co. (NASDAQ:APP) by 49.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 88,200 shares of the company’s stock after selling 86,200 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in AppLovin were worth $28,562,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC bought a new position in AppLovin in the 4th quarter valued at about $1,781,922,000. Baillie Gifford & Co. raised its stake in shares of 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 position in shares of AppLovin in the fourth quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of 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 buying an additional 2,373,885 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the 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 transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,900 shares of company stock worth $110,639,281 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. Loop Capital restated a “buy” rating and issued a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. HSBC set a $436.00 target price on AppLovin and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, UBS Group lifted their price target on AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

AppLovin Trading Up 1.7%

Shares of AppLovin stock opened at $376.54 on Thursday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm has a market cap of $128.01 billion, a PE ratio of 82.94, a PEG ratio of 3.02 and a beta of 2.39. The company has a 50 day simple moving average of $280.48 and a two-hundred day simple moving average of $314.77.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company posted $0.67 EPS. The business’s quarterly revenue was up 40.3% on a year-over-year basis. Analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

About AppLovin

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.