AppLovin Co. (NASDAQ:APP) Position Cut by LGT Group Foundation

LGT Group Foundation trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 61.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,901 shares of the company’s stock after selling 28,949 shares during the quarter. LGT Group Foundation’s holdings in AppLovin were worth $5,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its stake in AppLovin by 97.8% during the 3rd quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after purchasing an additional 7,342 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in AppLovin during the 3rd quarter valued at $296,000. US Bancorp DE boosted its stake in AppLovin by 7.5% during the 3rd quarter. US Bancorp DE now owns 53,986 shares of the company’s stock valued at $7,048,000 after purchasing an additional 3,771 shares in the last quarter. Stephens Inc. AR boosted its stake in AppLovin by 56.4% during the 3rd quarter. Stephens Inc. AR now owns 6,620 shares of the company’s stock valued at $864,000 after purchasing an additional 2,387 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in AppLovin by 150.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock valued at $133,000 after purchasing an additional 613 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,947 shares of company stock worth $75,810,416. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP opened at $337.34 on Tuesday. 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 Co. has a 12-month low of $59.30 and a 12-month high of $525.15. The stock has a fifty day moving average of $367.64 and a 200-day moving average of $257.15. The firm has a market capitalization of $113.21 billion, a P/E ratio of 74.30, a PEG ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data 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%. Equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Wedbush reissued an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group raised their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $452.29.

AppLovin 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.