AppLovin Co. (NASDAQ:APP) Shares Sold by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. decreased its stake in shares of AppLovin Co. (NASDAQ:APP) by 36.2% during the fourth quarter, HoldingsChannel reports. The firm owned 354 shares of the company’s stock after selling 201 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in AppLovin were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Benjamin Edwards Inc. acquired a new position in AppLovin in the 3rd quarter worth approximately $364,000. IHT Wealth Management LLC acquired a new stake in shares of AppLovin in the third quarter worth $316,000. Royal London Asset Management Ltd. purchased a new position in shares of AppLovin during the third quarter worth $13,052,000. Quarry LP lifted its position in AppLovin by 121.2% during the third quarter. Quarry LP now owns 1,157 shares of the company’s stock valued at $151,000 after purchasing an additional 634 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in AppLovin by 146.6% in the third quarter. Quantinno Capital Management LP now owns 6,412 shares of the company’s stock valued at $837,000 after purchasing an additional 3,812 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $219.37 on Friday. The firm has a market cap of $74.58 billion, a P/E ratio of 48.32, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The stock has a 50 day moving average of $342.89 and a two-hundred day moving average of $288.42. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. 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 (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 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%. On average, analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on 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 completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last three months. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Loop Capital restated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Finally, UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the company 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, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $435.47.

AppLovin 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.