AppLovin Co. (NASDAQ:APP) Stock Holdings Lessened by Second Line Capital LLC

Second Line Capital LLC decreased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,844 shares of the company's stock after selling 6,469 shares during the quarter. AppLovin makes up 2.3% of Second Line Capital LLC's holdings, making the stock its 11th largest holding. Second Line Capital LLC's holdings in AppLovin were worth $8,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Barclays PLC raised its stake in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after acquiring an additional 153,248 shares during the last quarter. Chicago Capital LLC purchased a new stake in shares of AppLovin during the 4th quarter worth about $323,000. Brookstone Capital Management acquired a new stake in AppLovin in the fourth quarter valued at approximately $290,000. Assenagon Asset Management S.A. acquired a new position in AppLovin during the fourth quarter worth $1,312,000. Finally, Park Avenue Securities LLC lifted its stake in AppLovin by 4.5% in the 4th quarter. Park Avenue Securities LLC now owns 14,348 shares of the company's stock valued at $4,646,000 after buying an additional 622 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group lifted their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Oppenheimer reaffirmed 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. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Wells Fargo & Company lifted their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. One investment 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 stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $433.85.

Insider Activity at AppLovin

In related news, Director Dawson Alyssa Harvey sold 570 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total value of $211,538.40. Following the completion of the sale, the director now directly owns 6,231 shares in the company, valued at approximately $2,312,448.72. This represents a 8.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the sale, the director now directly owns 221,209 shares in the company, valued at $82,867,103.49. This trade represents a 64.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Down 2.0%

AppLovin stock traded down $7.58 during midday trading on Tuesday, reaching $363.05. The company's stock had a trading volume of 5,517,068 shares, compared to its average volume of 6,031,348. The business has a 50-day simple moving average of $287.10 and a 200-day simple moving average of $320.97. The company has a market cap of $122.85 billion, a P/E ratio of 79.97, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm posted $0.67 earnings per share. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

AppLovin Company 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.