Csenge Advisory Group Sells 489 Shares of AppLovin Co. (NASDAQ:APP)

Csenge Advisory Group reduced its position in AppLovin Co. (NASDAQ:APP) by 24.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,479 shares of the company’s stock after selling 489 shares during the period. Csenge Advisory Group’s holdings in AppLovin were worth $479,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in AppLovin in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. purchased a new position in AppLovin in the 4th quarter worth approximately $25,000. DT Investment Partners LLC acquired a new position in AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter valued at about $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now directly owns 2,987 shares in the company, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock worth $267,640,144 over the last three months. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock opened at $496.07 on Wednesday. The firm has a market capitalization of $166.48 billion, a PE ratio of 150.33, a P/E/G ratio of 3.10 and a beta of 2.30. The firm has a 50-day moving average of $358.18 and a two-hundred day moving average of $237.58. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a one year low of $54.50 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. On average, analysts forecast that AppLovin Co. will post 4.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on APP. Wells Fargo & Company raised their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Piper Sandler boosted their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Bank of America boosted 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. Benchmark raised their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $422.18.

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.