Lazard Asset Management LLC Has $18.41 Million Position in AppLovin Co. (NASDAQ:APP)

Lazard Asset Management LLC decreased its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,855 shares of the company's stock after selling 14,632 shares during the quarter. Lazard Asset Management LLC's holdings in AppLovin were worth $18,410,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. HSBC set a $436.00 price objective on AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group raised their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. 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 report on Thursday, May 8th. The Goldman Sachs Group lifted their price objective on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $433.85.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction 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 $21,359,201.85. The trade was a 16.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at $1,179,045,567.88. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,119,470 shares of company stock valued at $409,752,180 over the last three months. Company insiders own 14.69% of the company's stock.

AppLovin Stock Performance

Shares of APP traded down $4.27 during trading hours on Friday, reaching $362.34. 4,689,782 shares of the company's stock traded hands, compared to its average volume of 6,016,246. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market capitalization of $123.18 billion, a price-to-earnings ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39. The business's fifty day simple moving average is $283.05 and its two-hundred day simple moving average is $316.16. 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 (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping 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 previous year, the business earned $0.67 earnings per share. AppLovin's revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

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.