FORA Capital LLC Has $12.21 Million Holdings in AppLovin Co. (NASDAQ:APP)

FORA Capital LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 67.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,718 shares of the company's stock after selling 77,662 shares during the quarter. AppLovin makes up about 1.4% of FORA Capital LLC's investment portfolio, making the stock its 9th biggest position. FORA Capital LLC's holdings in AppLovin were worth $12,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APP. FMR LLC raised its position in shares of AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC bought a new stake in AppLovin during the 4th quarter worth about $1,781,922,000. Baillie Gifford & Co. lifted its position in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Norges Bank bought a new position in shares of AppLovin in the 4th quarter valued at about $828,138,000. Finally, Arrowstreet Capital Limited Partnership grew its position 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 buying an additional 2,373,885 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Down 3.2 %

Shares of AppLovin stock traded down $10.72 during trading hours on Friday, reaching $328.79. 7,749,047 shares of the company's stock were exchanged, compared to its average volume of 5,992,584. The stock has a market cap of $111.77 billion, a P/E ratio of 72.42, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a 50 day moving average of $275.55 and a two-hundred day moving average of $310.54. 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 fifty-two week low of $60.67 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results 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. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm's revenue was up 40.3% on a year-over-year basis. During the same period last year, the business earned $0.67 earnings per share. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the business'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 completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm'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 transaction of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a research note on Thursday. Morgan Stanley boosted their target price on AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a research report on Thursday. Citigroup boosted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, UBS Group increased their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin has an average rating of "Moderate Buy" and an average price target of $433.85.

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.