GTS Securities LLC Sells 241,432 Shares of AppLovin Co. (NASDAQ:APP)

GTS Securities LLC reduced its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 99.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,368 shares of the company's stock after selling 241,432 shares during the quarter. GTS Securities LLC's holdings in AppLovin were worth $443,000 at the end of the most recent quarter.

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

AppLovin Stock Performance

Shares of AppLovin stock traded up $8.77 during trading hours on Friday, reaching $393.00. The company's stock had a trading volume of 7,676,614 shares, compared to its average volume of 6,080,266. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company's 50 day simple moving average is $297.68 and its 200 day simple moving average is $327.72. 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 stock has a market cap of $132.99 billion, a P/E ratio of 86.56, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $0.67 EPS. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. As a group, analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on APP shares. Wells Fargo & Company increased 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. Morgan Stanley boosted their target price on shares of AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Oppenheimer restated an "outperform" rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Jefferies Financial Group lifted their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $433.85.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 33,700 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $365.54, for a total value of $12,318,698.00. Following the transaction, the chief executive officer now owns 2,760,363 shares in the company, valued at $1,009,023,091.02. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 34,766 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total value of $12,294,648.24. Following the completion of the sale, the chief technology officer now directly owns 70,889 shares of the company's stock, valued at approximately $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,115,754 shares of company stock valued at $411,165,970. Corporate insiders own 14.69% of the company's stock.

About AppLovin

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.