Polymer Capital Management HK LTD Lowers Stock Position in AppLovin Co. (NASDAQ:APP)

Polymer Capital Management HK LTD lowered its position in AppLovin Co. (NASDAQ:APP) by 49.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,800 shares of the company’s stock after selling 5,700 shares during the quarter. Polymer Capital Management HK LTD’s holdings in AppLovin were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Titleist Asset Management LLC purchased a new stake in AppLovin during the fourth quarter worth approximately $767,000. MIG Capital LLC acquired a new stake in AppLovin in the 4th quarter valued at $341,000. Quadrant Capital Group LLC raised its position in AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after purchasing an additional 33 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of AppLovin by 22.3% during the fourth quarter. Russell Investments Group Ltd. now owns 407,390 shares of the company’s stock worth $131,925,000 after purchasing an additional 74,226 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in shares of AppLovin in the fourth quarter worth about $236,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APP. Bank of America upped their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Loop Capital reaffirmed a “buy” rating and set a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Stock Performance

APP opened at $219.37 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s 50 day moving average is $342.89 and its 200-day moving average is $288.42. The stock has a market cap of $74.58 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. On average, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the 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 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 trade represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction 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 transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 in the last 90 days. Corporate 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.