Axa S.A. Sells 12,578 Shares of AppLovin Co. (NASDAQ:APP)

AXA S.A. lowered its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 36.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 22,319 shares of the company's stock after selling 12,578 shares during the period. AXA S.A.'s holdings in AppLovin were worth $7,228,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in APP. FMR LLC lifted its holdings in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of AppLovin during the fourth quarter worth approximately $1,781,922,000. Geode Capital Management LLC raised its stake in shares of AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after acquiring an additional 573,310 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Finally, Invesco Ltd. grew its position in AppLovin by 68.0% during the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after acquiring an additional 1,222,074 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP traded down $10.72 on Friday, reaching $328.79. 7,749,047 shares of the company's stock traded hands, compared to its average volume of 5,992,584. The stock's 50 day simple moving average is $275.55 and its two-hundred day simple moving average is $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 52-week low of $60.67 and a 52-week high of $525.15. The stock has a market cap of $111.77 billion, a PE ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. On average, analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction dated 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 transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on APP. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research note on Thursday. Jefferies Financial Group upped their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday. The Goldman Sachs Group boosted their target price on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday. Piper Sandler boosted their price objective on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Benchmark restated a "buy" rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus 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.