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

Lingohr Asset Management GmbH cut its holdings in AppLovin Co. (NASDAQ:APP) by 81.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,135 shares of the company’s stock after selling 9,202 shares during the period. AppLovin accounts for 1.5% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 24th biggest position. Lingohr Asset Management GmbH’s holdings in AppLovin were worth $716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. iA Global Asset Management Inc. boosted its holdings in AppLovin by 351.5% in the 4th quarter. iA Global Asset Management Inc. now owns 36,437 shares of the company’s stock worth $11,799,000 after buying an additional 28,366 shares during the period. Teacher Retirement System of Texas bought a new position in AppLovin in the 4th quarter worth approximately $19,557,000. Sandy Spring Bank boosted its holdings in AppLovin by 58.1% in the 4th quarter. Sandy Spring Bank now owns 272 shares of the company’s stock worth $88,000 after buying an additional 100 shares during the period. Royal London Asset Management Ltd. boosted its holdings in AppLovin by 10.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 110,065 shares of the company’s stock worth $35,642,000 after buying an additional 10,089 shares during the period. Finally, Trivest Advisors Ltd bought a new position in AppLovin in the 4th quarter worth approximately $35,605,000. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last 90 days. 14.69% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $560.00 price target (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. The Goldman Sachs Group raised their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Benchmark raised their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup raised their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $297.03 on Thursday. The stock has a market cap of $100.98 billion, a PE ratio of 65.43, a PEG ratio of 3.02 and a beta of 2.33. The company’s fifty day moving average is $354.37 and its 200 day moving average is $272.20. AppLovin Co. has a 52 week low of $60.67 and a 52 week 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.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

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.