AppLovin Co. (NASDAQ:APP) Shares Sold by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP lowered its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 71.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,166 shares of the company's stock after selling 8,012 shares during the period. Occudo Quantitative Strategies LP's holdings in AppLovin were worth $1,025,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Maytus Capital Management LLC acquired a new position in AppLovin in the 4th quarter valued at about $2,753,000. Napa Wealth Management acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of AppLovin by 6,883.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 183,670 shares of the company's stock worth $59,488,000 after purchasing an additional 181,040 shares during the last quarter. Moore Capital Management LP raised its stake in shares of AppLovin by 36.4% during the fourth quarter. Moore Capital Management LP now owns 116,811 shares of the company's stock worth $37,827,000 after purchasing an additional 31,153 shares during the last quarter. Finally, LRI Investments LLC lifted its holdings in shares of AppLovin by 291.0% during the fourth quarter. LRI Investments LLC now owns 434 shares of the company's stock worth $140,000 after purchasing an additional 323 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction that occurred 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 trade represents a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the company'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 of the company's stock, valued at $201,675,501.85. This trade represents a 24.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,119,470 shares of company stock worth $409,752,180 in the last 90 days. 14.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on APP shares. Citigroup boosted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Monday, April 21st. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Morgan Stanley lifted their price objective on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Benchmark reissued a "buy" rating and set a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. One investment 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. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average target price of $433.85.

AppLovin Trading Down 1.2%

Shares of APP traded down $4.27 on Friday, hitting $362.34. 4,689,782 shares of the stock traded hands, compared to its average volume of 6,016,246. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock's 50 day moving average is $283.05 and its two-hundred day moving average is $316.16. The firm has a market capitalization of $123.18 billion, a P/E ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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