AppLovin Co. (NASDAQ:APP) Shares Sold by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC decreased its position in AppLovin Co. (NASDAQ:APP - Free Report) by 39.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,796,826 shares of the company's stock after selling 1,168,687 shares during the period. AppLovin comprises about 6.9% of Whale Rock Capital Management LLC's investment portfolio, making the stock its 3rd biggest holding. Whale Rock Capital Management LLC owned 0.54% of AppLovin worth $581,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $25,000. Riverview Trust Co lifted its position in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in AppLovin in the 4th quarter worth approximately $28,000. Finally, Hemington Wealth Management lifted its position in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Up 2.3%

NASDAQ:APP opened at $370.63 on Tuesday. The stock's fifty day moving average price is $287.10 and its two-hundred day moving average price is $320.97. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $125.42 billion, a price-to-earnings ratio of 81.64, 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 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 the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm's quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. On average, analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity

In related news, Director Herald Y. Chen sold 400,000 shares of the company's stock in a transaction 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 sale, the director now owns 221,209 shares in the company, valued at $82,867,103.49. This represents a 64.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Herald Y. Chen sold 171,420 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the completion of the sale, the director now owns 221,209 shares of the company's stock, valued at approximately $82,681,287.93. This represents a 43.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,119,470 shares of company stock valued at $409,752,180 in the last 90 days. 14.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on APP shares. Piper Sandler increased their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Benchmark reiterated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. The Goldman Sachs Group increased their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Citigroup increased their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $433.85.

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.

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