Tredje AP fonden Sells 13,589 Shares of AppLovin Co. (NASDAQ:APP)

Tredje AP fonden cut its holdings in AppLovin Co. (NASDAQ:APP) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,590 shares of the company’s stock after selling 13,589 shares during the period. Tredje AP fonden’s holdings in AppLovin were worth $4,401,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake 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 period. SVB Wealth LLC bought a new position in AppLovin during the fourth quarter valued at about $1,781,922,000. Baillie Gifford & Co. increased its stake 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 period. Raymond James Financial Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $535,070,000. Finally, Jennison Associates LLC bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $414,462,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Down 0.2 %

NASDAQ:APP opened at $272.00 on Friday. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. 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 firm has a market capitalization of $92.47 billion, a P/E ratio of 59.91, a P/E/G ratio of 3.02 and a beta of 2.33. The stock’s fifty day simple moving average is $358.15 and its 200-day simple moving average is $265.29.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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 research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of several analyst reports. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and issued a $560.00 target price (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is owned by company insiders.

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.