Janus Henderson Group PLC Sells 109,138 Shares of AppLovin Co. (NASDAQ:APP)

Janus Henderson Group PLC reduced its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,241,664 shares of the company's stock after selling 109,138 shares during the quarter. Janus Henderson Group PLC owned about 0.67% of AppLovin worth $725,921,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin during the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in AppLovin in the fourth quarter worth $28,000. Finally, Hemington Wealth Management lifted its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after buying an additional 40 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APP has been the subject of several research reports. Piper Sandler lifted their price target on shares of AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research report on Thursday. Oppenheimer reiterated an "outperform" rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a report on Thursday. FBN Securities assumed coverage on AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price target on the stock. UBS Group raised their price objective on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $433.85.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 in the last three months. Corporate insiders own 14.69% of the company's stock.

AppLovin Trading Down 3.2 %

AppLovin stock opened at $328.79 on Friday. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a market cap of $111.77 billion, a P/E ratio of 72.42, a P/E/G 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 business has a 50-day simple moving average of $275.55 and a two-hundred day simple moving average of $311.59.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $0.67 earnings per share. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. Analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

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.

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