Main Management ETF Advisors LLC Sells 1,856 Shares of AppLovin Co. (NASDAQ:APP)

Main Management ETF Advisors LLC trimmed its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,648 shares of the company's stock after selling 1,856 shares during the quarter. AppLovin accounts for about 0.3% of Main Management ETF Advisors LLC's holdings, making the stock its 21st largest position. Main Management ETF Advisors LLC's holdings in AppLovin were worth $6,686,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Oxinas Partners Wealth Management LLC bought a new position in shares of AppLovin in the fourth quarter worth $1,081,000. Barclays PLC grew its position in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after buying an additional 153,248 shares in the last quarter. Tcfg Wealth Management LLC bought a new position in AppLovin in the 4th quarter worth about $369,000. Caprock Group LLC raised its holdings in shares of AppLovin by 42.2% in the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter valued at about $382,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company's stock, valued at $201,675,501.85. The trade was a 24.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

APP has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Benchmark reaffirmed a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. HSBC set a $436.00 target price on AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Loop Capital reaffirmed a "buy" rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus price target of $433.85.

AppLovin Stock Up 6.4%

NASDAQ APP opened at $370.10 on Wednesday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market capitalization of $125.82 billion, a PE ratio of 81.52, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business's 50-day moving average is $278.36 and its 200 day moving average is $314.35.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business earned $0.67 EPS. The company's revenue for the quarter was up 40.3% on a year-over-year basis. Sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share 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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.