Quarry LP Trims Position in AppLovin Co. (NASDAQ:APP)

Quarry LP trimmed its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 76.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 277 shares of the company's stock after selling 880 shares during the quarter. Quarry LP's holdings in AppLovin were worth $90,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Berger Financial Group Inc purchased a new stake in shares of AppLovin in the fourth quarter valued at about $280,000. Science & Technology Partners L.P. bought a new stake in AppLovin in the 4th quarter worth $30,609,000. Voya Investment Management LLC raised its holdings in shares of AppLovin by 28.7% during the fourth quarter. Voya Investment Management LLC now owns 694,264 shares of the company's stock valued at $224,823,000 after acquiring an additional 154,954 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $347,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in AppLovin by 1.9% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 45,016 shares of the company's stock worth $14,578,000 after acquiring an additional 838 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on 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 transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. 14.69% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on APP. UBS Group dropped their price target on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Loop Capital reissued a "buy" rating and issued a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. Citigroup increased their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $560.00 target price on shares of AppLovin in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $415.15.

AppLovin Trading Up 10.1 %

APP stock traded up $28.09 on Friday, hitting $307.58. 6,984,084 shares of the company were exchanged, compared to its average volume of 5,930,167. 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 twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market capitalization of $104.56 billion, a price-to-earnings ratio of 67.75, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The business's fifty day moving average is $278.21 and its two-hundred day moving average is $303.70.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, research 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.