Man Group plc reduced its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,100 shares of the company's stock after selling 36,431 shares during the period. Man Group plc's holdings in AppLovin were worth $30,149,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in APP. FMR LLC raised its position in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $1,781,922,000. Geode Capital Management LLC raised its position in shares of AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after acquiring an additional 573,310 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of AppLovin by 68.0% in the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after acquiring an additional 1,222,074 shares during the period. 41.85% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, Director Dawson Alyssa Harvey sold 570 shares of the company'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 owns 6,231 shares in the company, valued at approximately $2,312,448.72. This represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,119,470 shares of company stock valued at $409,752,180. Corporate insiders own 14.69% of the company's stock.
Analyst Ratings Changes
APP has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and set a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. FBN Securities started coverage on AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective for the company. Finally, Loop Capital reissued a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $433.85.
Read Our Latest Research Report on AppLovin
AppLovin Stock Performance
Shares of APP stock opened at $366.61 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a fifty day simple moving average of $283.05 and a two-hundred day simple moving average of $316.16. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The firm has a market capitalization of $124.63 billion, a PE ratio of 80.75, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.
AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results 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 company 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 firm posted $0.67 earnings per share. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. Analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.
About AppLovin
(
Free Report)
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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