AppLovin Co. (NASDAQ:APP) Holdings Lowered by Boothbay Fund Management LLC

Boothbay Fund Management LLC cut its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 42.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,999 shares of the company's stock after selling 3,691 shares during the quarter. Boothbay Fund Management LLC's holdings in AppLovin were worth $1,619,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Oxinas Partners Wealth Management LLC purchased a new position in shares of AppLovin during the fourth quarter worth $1,081,000. Virtu Financial LLC acquired a new stake in AppLovin in the 3rd quarter valued at approximately $3,211,000. Franchise Capital Ltd acquired a new position in AppLovin in the 4th quarter valued at about $2,811,000. Barclays PLC increased its stake in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after purchasing an additional 153,248 shares during the period. Finally, Tcfg Wealth Management LLC purchased a new position in shares of AppLovin in the fourth quarter valued at approximately $369,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

APP stock traded up $10.18 on Thursday, reaching $279.49. 5,861,120 shares of the company's stock were exchanged, compared to its average volume of 5,912,581. 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 stock has a fifty day moving average of $280.83 and a 200-day moving average of $302.78. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market cap of $95.01 billion, a PE ratio of 61.56, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company's stock.

Analyst Ratings Changes

APP has been the subject of several recent research reports. Citigroup lifted their price objective on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group dropped their price objective on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $415.15.

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.