Polar Capital Holdings Plc Cuts Stake in AppLovin Co. (NASDAQ:APP)

Polar Capital Holdings Plc decreased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,039 shares of the company's stock after selling 137,314 shares during the period. Polar Capital Holdings Plc owned about 0.09% of AppLovin worth $92,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter worth approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $28,000. Finally, Hemington Wealth Management increased its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

APP has been the subject of several recent research reports. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Jefferies Financial Group increased their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Benchmark reaffirmed a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. FBN Securities started coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective on the stock. Finally, HSBC set a $436.00 target price on AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Stock Performance

APP traded up $8.16 during trading on Monday, reaching $370.50. 2,722,416 shares of the company's stock were exchanged, compared to its average volume of 6,019,992. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company's fifty day simple moving average is $285.14 and its 200-day simple moving average is $319.52. The stock has a market capitalization of $125.95 billion, a P/E ratio of 81.63, 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 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 firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the business posted $0.67 EPS. The business's revenue was up 40.3% compared to the same quarter last year. As a group, research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at $1,179,045,567.88. This represents a 1.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is currently owned by insiders.

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.