Ethic Inc. Has $3.13 Million Position in AppLovin Co. (NASDAQ:APP)

Ethic Inc. decreased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,657 shares of the company's stock after selling 1,966 shares during the quarter. Ethic Inc.'s holdings in AppLovin were worth $3,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin during the 4th quarter worth $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co boosted its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in shares of AppLovin during the fourth quarter worth about $28,000. Finally, Hemington Wealth Management lifted its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

APP stock traded up $6.19 on Wednesday, reaching $376.29. The company's stock had a trading volume of 4,236,758 shares, compared to its average volume of 6,016,533. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $127.92 billion, a P/E ratio of 82.88, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm has a fifty day moving average of $278.36 and a two-hundred day moving average of $314.35.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of several analyst reports. HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Piper Sandler boosted their target price on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. Finally, Loop Capital reissued a "buy" rating and issued a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $433.85.

Insiders Place Their Bets

In other news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction 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 sale, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. The trade was a 24.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by corporate 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.