SG Americas Securities LLC Lowers Stock Position in AppLovin Co. (NASDAQ:APP)

SG Americas Securities LLC reduced its position in AppLovin Co. (NASDAQ:APP - Free Report) by 88.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,072 shares of the company's stock after selling 22,894 shares during the period. SG Americas Securities LLC's holdings in AppLovin were worth $122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP raised its stake in AppLovin by 143.1% in the 3rd quarter. Quantbot Technologies LP now owns 116,917 shares of the company's stock valued at $4,672,000 after acquiring an additional 68,822 shares during the period. Ameriprise Financial Inc. raised its stake in AppLovin by 4,805.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company's stock valued at $56,050,000 after acquiring an additional 1,374,066 shares during the period. Black Swift Group LLC bought a new stake in AppLovin in the 3rd quarter valued at about $999,000. Vanguard Group Inc. raised its stake in AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company's stock valued at $723,245,000 after acquiring an additional 1,411,453 shares during the period. Finally, Scout Investments Inc. increased its position in shares of AppLovin by 83.2% during the third quarter. Scout Investments Inc. now owns 923,361 shares of the company's stock valued at $37,692,000 after buying an additional 419,221 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the sale, the insider now owns 546,560 shares of the company's stock, valued at $31,569,305.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares of the company's stock, valued at $743,065.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the sale, the insider now directly owns 546,560 shares of the company's stock, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. Insiders sold a total of 61,215 shares of company stock valued at $4,416,815 over the last quarter. 12.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. Morgan Stanley upped their price target on AppLovin from $55.00 to $70.00 and gave the company an "equal weight" rating in a research report on Tuesday. Oppenheimer upped their price target on AppLovin from $70.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, April 8th. Wedbush upped their price target on AppLovin from $67.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. UBS Group upped their price target on AppLovin from $46.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, February 15th. Finally, TheStreet upgraded AppLovin from a "d+" rating to a "c-" rating in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.31.

AppLovin Price Performance

APP traded down $2.06 during midday trading on Friday, hitting $66.80. The stock had a trading volume of 2,613,474 shares, compared to its average volume of 4,114,741. The company has a market cap of $22.85 billion, a P/E ratio of 66.80, a price-to-earnings-growth ratio of 1.43 and a beta of 1.90. The business has a fifty day moving average of $65.26 and a 200 day moving average of $48.92. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. AppLovin Co. has a 1 year low of $15.41 and a 1 year high of $79.55.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. AppLovin's revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, equities analysts forecast that AppLovin Co. will post 2.47 earnings per share for the current fiscal year.

AppLovin 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.