Tidal Investments LLC Trims Stock Holdings in AppLovin Co. (NASDAQ:APP)

Tidal Investments LLC lessened its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,065 shares of the company's stock after selling 5,689 shares during the quarter. Tidal Investments LLC's holdings in AppLovin were worth $6,821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new position in AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co lifted its holdings in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new position in shares of AppLovin during the 4th quarter worth $28,000. Finally, Hemington Wealth Management raised its holdings in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Down 1.3%

NASDAQ APP traded down $4.70 during trading on Wednesday, hitting $358.35. The stock had a trading volume of 7,554,897 shares, compared to its average volume of 6,043,238. The company has a market capitalization of $121.26 billion, a PE ratio of 78.93, a PEG ratio of 3.02 and a beta of 2.39. 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 firm has a 50 day moving average price of $290.23 and a 200 day moving average price of $321.52. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 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 the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $0.67 earnings per share. The business's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APP. Arete Research set a $200.00 price target on AppLovin in a report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Benchmark reiterated a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Bank of America lifted their price target on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Citigroup lifted their price target on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and an average target price of $433.85.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 6,599 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 344,256 shares of the company's stock, valued at $127,150,953.60. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This trade represents 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 sold 1,132,654 shares of company stock valued at $414,627,485. 14.69% of the stock is currently owned by corporate insiders.

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.