AppLovin Co. (NASDAQ:APP) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of AppLovin Co. (NASDAQ:APP) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,439 shares of the company’s stock after selling 8,885 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in AppLovin were worth $2,245,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in APP. FinTrust Capital Advisors LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $32,000. Atlas Capital Advisors LLC acquired a new stake in AppLovin during the 1st quarter worth $38,000. Quarry LP acquired a new position in AppLovin in the fourth quarter valued at $44,000. GAMMA Investing LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at about $47,000. Finally, Lindbrook Capital LLC boosted its stake in shares of AppLovin by 26.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the completion of the transaction, the insider now owns 366,567 shares of the company’s stock, valued at $30,557,025.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the transaction, the insider now directly owns 366,567 shares in the company, valued at $30,557,025.12. The disclosure for this sale can be found here. Insiders sold a total of 17,857,726 shares of company stock valued at $1,489,251,374 in the last 90 days. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Down 0.4 %

Shares of NASDAQ APP opened at $84.36 on Thursday. The firm has a market cap of $27.76 billion, a P/E ratio of 50.21, a price-to-earnings-growth ratio of 1.44 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. AppLovin Co. has a 1 year low of $26.92 and a 1 year high of $91.91. The firm’s 50 day moving average price is $81.51 and its 200 day moving average price is $65.58.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $973.70 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on APP. The Goldman Sachs Group boosted their target price on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Stifel Nicolaus increased their price target on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Jefferies Financial Group increased their target price on shares of AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Morgan Stanley upped their price target on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

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.