AppLovin Co. (NASDAQ:APP) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC decreased its stake in shares of AppLovin Co. (NASDAQ:APP) by 24.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,067 shares of the company’s stock after selling 17,044 shares during the period. Verition Fund Management LLC’s holdings in AppLovin were worth $6,797,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the period. Fred Alger Management LLC bought a new position in shares of AppLovin during the second quarter valued at approximately $290,655,000. 1832 Asset Management L.P. raised its position in shares of AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the period. WCM Investment Management LLC lifted its holdings in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its position in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent research reports. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital raised their price objective on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 30,330 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total value of $10,029,221.10. Following the completion of the transaction, the director now owns 90,576 shares of the company’s stock, valued at $29,950,765.92. This represents a 25.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 5,500 shares of AppLovin stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares in the company, valued at $390,315,899.88. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 884,395 shares of company stock worth $243,101,629 over the last ninety days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $336.75 on Monday. The business’s 50-day simple moving average is $201.91 and its 200-day simple moving average is $126.00. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $344.77. The firm has a market cap of $113.01 billion, a price-to-earnings ratio of 102.05, a P/E/G ratio of 4.15 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. As a group, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal 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.