American Trust decreased its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 53.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,728 shares of the company's stock after selling 3,092 shares during the quarter. American Trust's holdings in AppLovin were worth $883,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its stake in shares of AppLovin by 75.5% in 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 in the last quarter. SVB Wealth LLC bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $1,781,922,000. Geode Capital Management LLC increased its holdings in shares of AppLovin by 14.5% in the 4th 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. lifted its position in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock valued at $977,639,000 after purchasing an additional 1,222,074 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.
Insider Activity at AppLovin
In other AppLovin news, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the transaction, the insider now directly owns 357,903 shares in the company, valued at approximately $132,506,427.69. This trade represents a 1.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,233,254 shares of company stock valued at $446,927,149 in the last three months. Corporate insiders own 14.69% of the company's stock.
AppLovin Stock Performance
AppLovin stock traded up $26.62 during trading hours on Tuesday, hitting $380.91. The stock had a trading volume of 7,674,411 shares, compared to its average volume of 6,062,350. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. 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 company has a 50-day moving average of $293.78 and a two-hundred day moving average of $326.23. The company has a market cap of $128.89 billion, a PE ratio of 83.90, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.
AppLovin (NASDAQ:APP - Get Free Report) last issued 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. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the firm posted $0.67 EPS. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently weighed in on APP shares. FBN Securities started coverage on AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Bank of America upped their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their target price on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Oppenheimer reiterated an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $433.85.
Check Out Our Latest Analysis on AppLovin
AppLovin Profile
(
Free Report)
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.
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