Lingohr Asset Management GmbH Sells 9,202 Shares of AppLovin Co. (NASDAQ:APP)

Lingohr Asset Management GmbH lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 81.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,135 shares of the company’s stock after selling 9,202 shares during the quarter. AppLovin comprises 1.5% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 24th biggest holding. Lingohr Asset Management GmbH’s holdings in AppLovin were worth $716,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of APP. FMR LLC boosted its position in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. SVB Wealth LLC bought a new stake in AppLovin during the fourth quarter valued at $1,781,922,000. Baillie Gifford & Co. boosted its position in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares during the last quarter. Raymond James Financial Inc. bought a new stake in AppLovin during the fourth quarter valued at $535,070,000. Finally, Jennison Associates LLC bought a new stake in AppLovin during the fourth quarter valued at $414,462,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 6.5 %

NASDAQ:APP opened at $297.03 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $100.98 billion, a price-to-earnings ratio of 65.43, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The firm has a 50-day moving average price of $354.37 and a two-hundred day moving average price of $272.20.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the firm’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 sale, the chief technology officer now owns 88,389 shares in the company, valued at $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 is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. Insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Macquarie increased their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Citigroup increased their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Bank of America increased their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One equities research 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. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Company 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.