Altshuler Shaham Ltd Sells 13,721 Shares of AppLovin Co. (NASDAQ:APP)

Altshuler Shaham Ltd lowered its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 67.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,754 shares of the company's stock after selling 13,721 shares during the period. Altshuler Shaham Ltd's holdings in AppLovin were worth $2,187,000 at the end of the most recent quarter.

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

AppLovin Trading Down 6.3 %

Shares of AppLovin stock traded down $14.98 during trading on Monday, reaching $223.24. The company's stock had a trading volume of 1,878,289 shares, compared to its average volume of 5,816,945. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $75.89 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 3.02 and a beta of 2.39. The firm's 50-day moving average is $313.27 and its two-hundred day moving average is $298.29. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data 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, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Oppenheimer reissued an "outperform" rating and set a $560.00 price objective on shares of AppLovin in a report on Thursday, March 27th. Citigroup boosted their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Morgan Stanley upgraded AppLovin from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Bank of America boosted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $424.84.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares of the company's stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is owned by company insiders.

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.