AppLovin Co. (NASDAQ:APP) Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD trimmed its stake in shares of AppLovin Co. (NASDAQ:APP) by 49.6% in the 4th quarter, HoldingsChannel reports. The firm owned 5,800 shares of the company’s stock after selling 5,700 shares during the quarter. Polymer Capital Management HK LTD’s holdings in AppLovin were worth $1,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the fourth quarter valued at about $25,000. Riverview Trust Co raised its holdings in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $28,000. Hemington Wealth Management boosted its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp grew its position in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Down 16.3 %

Shares of APP stock opened at $219.37 on Friday. The firm has a market capitalization 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. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm’s fifty day simple moving average is $342.89 and its 200 day simple moving average is $288.42. 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 posted its quarterly earnings data 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 net margin of 33.54% and a return on equity of 188.55%. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Arete Research set a $200.00 target price on AppLovin in a report on Wednesday, March 5th. Piper Sandler increased their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group raised their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.47.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of the firm’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 directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % 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 Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by company insiders.

About AppLovin

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.