American Trust Cuts Stake in AppLovin Co. (NASDAQ:APP)

American Trust trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,728 shares of the company's stock after selling 3,092 shares during the period. American Trust's holdings in AppLovin were worth $883,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Barclays PLC grew its position in shares of 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 acquiring an additional 153,248 shares during the period. Tcfg Wealth Management LLC bought a new position in AppLovin during the fourth quarter worth about $369,000. Caprock Group LLC increased its position in AppLovin by 42.2% during the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company's stock worth $13,648,000 after buying an additional 12,500 shares during the last quarter. Capital Advisory Group Advisory Services LLC acquired a new position in AppLovin during the fourth quarter worth approximately $213,000. Finally, Jennison Associates LLC bought a new stake in AppLovin in the fourth quarter valued at approximately $414,462,000. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the transaction, the director now directly owns 221,209 shares in the company, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 6,599 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $369.35, for a total value of $2,437,340.65. Following the sale, the insider now directly owns 344,256 shares in the company, valued at $127,150,953.60. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,233,254 shares of company stock worth $446,927,149. Insiders own 14.69% of the company's stock.

AppLovin Stock Up 2.5%

Shares of NASDAQ APP traded up $9.35 during midday trading on Wednesday, hitting $390.26. 6,710,066 shares of the stock traded hands, compared to its average volume of 6,064,973. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The business has a 50 day moving average price of $295.26 and a two-hundred day moving average price of $326.61. The company has a market cap of $132.06 billion, a PE ratio of 85.96, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating 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 company's revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. On average, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on APP. Jefferies Financial Group raised their price target on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. FBN Securities assumed coverage on shares of AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. 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 issued a strong buy rating to the company. According to MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $433.85.

AppLovin Company 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.