Css LLC Il Decreases Holdings in AppLovin Co. (NASDAQ:APP)

Css LLC Il reduced its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 45.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,700 shares of the company's stock after selling 3,100 shares during the quarter. Css LLC Il's holdings in AppLovin were worth $1,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GHP Investment Advisors Inc. purchased a new position in AppLovin in the 4th quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin in the fourth quarter valued at $25,000. Riverview Trust Co raised its holdings in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new position in shares of AppLovin during the fourth quarter worth approximately $28,000. Finally, Hemington Wealth Management raised 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 purchasing an additional 40 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Down 1.3%

AppLovin stock opened at $358.35 on Thursday. The firm has a market cap of $121.26 billion, a PE ratio of 78.93, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The stock's 50 day simple moving average is $290.23 and its two-hundred day simple moving average is $321.52. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly 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 net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. Analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 6,599 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $369.35, for a total transaction of $2,437,340.65. Following the transaction, the insider now owns 344,256 shares in the company, valued at $127,150,953.60. This trade represents a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 570 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total transaction of $211,538.40. Following the completion of the sale, the director now directly owns 6,231 shares of the company's stock, valued at approximately $2,312,448.72. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,132,654 shares of company stock worth $414,627,485 in the last ninety days. Company insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Benchmark reaffirmed a "buy" rating and set a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. Jefferies Financial Group boosted their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Oppenheimer reissued an "outperform" rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Finally, FBN Securities began coverage on AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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