AppLovin Co. (NASDAQ:APP) Shares Sold by PFG Advisors

PFG Advisors reduced its holdings in shares of AppLovin Co. (NASDAQ:APP) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,852 shares of the company’s stock after selling 56 shares during the period. PFG Advisors’ holdings in AppLovin were worth $1,247,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JFS Wealth Advisors LLC grew its position in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. National Bank of Canada FI grew its position in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the last quarter. Hemington Wealth Management grew its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Versant Capital Management Inc grew its position in AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its position in AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 0.2 %

Shares of NASDAQ APP opened at $272.00 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $92.47 billion, a price-to-earnings ratio of 59.91, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The firm has a 50-day moving average price of $358.15 and a 200 day moving average price of $265.29. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. UBS Group lifted their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Macquarie lifted their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $438.28.

Insiders Place Their Bets

In other news, Director Herald Y. Chen sold 200,000 shares of the business’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 completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 322,871 shares of company stock worth $111,401,882. Insiders own 14.69% of the company’s stock.

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.