AppLovin Co. (NASDAQ:APP) Shares Sold by CFO4Life Group LLC

CFO4Life Group LLC reduced its position in shares of AppLovin Co. (NASDAQ:APP) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,328 shares of the company’s stock after selling 765 shares during the period. CFO4Life Group LLC’s holdings in AppLovin were worth $3,021,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. PGGM Investments boosted its position in shares of AppLovin by 493.0% in the 4th quarter. PGGM Investments now owns 18,976 shares of the company’s stock valued at $6,145,000 after purchasing an additional 15,776 shares during the period. HBK Sorce Advisory LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $481,000. Erste Asset Management GmbH acquired a new position in shares of AppLovin in the 4th quarter valued at $3,352,000. Vestcor Inc boosted its position in shares of AppLovin by 3.8% in the 4th quarter. Vestcor Inc now owns 4,075 shares of the company’s stock valued at $1,320,000 after purchasing an additional 150 shares during the period. Finally, Rakuten Securities Inc. boosted its position in shares of AppLovin by 1,066.6% in the 4th quarter. Rakuten Securities Inc. now owns 9,823 shares of the company’s stock valued at $3,181,000 after purchasing an additional 8,981 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm’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 directly owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 322,871 shares of company stock valued at $111,401,882. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on APP shares. JPMorgan Chase & Co. increased their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler increased their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Benchmark raised their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Up 5.8 %

Shares of AppLovin stock opened at $272.59 on Thursday. The firm has a market cap of $92.67 billion, a price-to-earnings ratio of 60.04, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The stock has a 50-day simple moving average of $359.55 and a 200-day simple moving average of $265.25.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) 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, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.