Gotham Asset Management LLC Sells 84,970 Shares of AppLovin Co. (NASDAQ:APP)

Gotham Asset Management LLC lowered its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 52.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,045 shares of the company's stock after selling 84,970 shares during the period. Gotham Asset Management LLC's holdings in AppLovin were worth $25,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APP. Oxinas Partners Wealth Management LLC purchased a new position in AppLovin in the 4th quarter worth about $1,081,000. Barclays PLC increased its stake in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after buying an additional 153,248 shares during the period. Tcfg Wealth Management LLC purchased a new position in AppLovin in the fourth quarter valued at about $369,000. Caprock Group LLC raised its position in AppLovin by 42.2% during the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new stake in AppLovin in the fourth quarter valued at approximately $382,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppLovin news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated 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 owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This represents a 24.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Bank of America increased their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. FBN Securities began coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price on the stock. Benchmark reiterated a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research report on Thursday. Jefferies Financial Group lifted their price objective on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $433.85.

AppLovin Trading Up 5.9%

AppLovin stock traded up $19.36 during mid-day trading on Monday, hitting $347.90. 7,818,944 shares of the company's stock were exchanged, compared to its average volume of 6,004,252. The company's 50 day simple moving average is $275.55 and its 200-day simple moving average is $312.65. 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 has a market capitalization of $118.27 billion, a P/E ratio of 76.63, a PEG ratio of 3.02 and a beta of 2.39. 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 issued its quarterly earnings data 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 return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm earned $0.67 EPS. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current 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.