Strategic Global Advisors LLC Sells 7,965 Shares of AppLovin Co. (NASDAQ:APP)

Strategic Global Advisors LLC reduced its position in shares of AppLovin Co. (NASDAQ:APP) by 34.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,288 shares of the company’s stock after selling 7,965 shares during the quarter. Strategic Global Advisors LLC’s holdings in AppLovin were worth $4,951,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in 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 buying an additional 29 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after acquiring an additional 31 shares during the period. Quadrant Capital Group LLC increased its holdings in AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after acquiring an additional 33 shares in the last quarter. Forum Financial Management LP raised its stake in AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after acquiring an additional 33 shares during the period. Finally, 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 worth $1,696,000 after acquiring an additional 38 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

AppLovin stock opened at $362.34 on Friday. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. 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 firm’s fifty day moving average is $285.14 and its 200 day moving average is $318.48. The company has a market cap of $123.18 billion, a price-to-earnings ratio of 79.81, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) 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 period in the prior year, the company earned $0.67 EPS. The business’s revenue was up 40.3% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 570 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total value of $211,538.40. Following the sale, the director now directly owns 6,231 shares of the company’s stock, valued at $2,312,448.72. This represents a 8.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly 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. In the last 90 days, insiders have sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Jefferies Financial Group raised their price target on AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Bank of America boosted their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. HSBC set a $436.00 target price on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, FBN Securities started coverage on AppLovin in a report on Friday, March 28th. They issued an “outperform” rating and a $385.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $433.85.

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.