American Century Companies Inc. Sells 3,499 Shares of AppLovin Co. (NASDAQ:APP)

American Century Companies Inc. lowered its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 996,779 shares of the company's stock after selling 3,499 shares during the quarter. American Century Companies Inc. owned 0.30% of AppLovin worth $322,787,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. FMR LLC grew its stake in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company's stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. SVB Wealth LLC acquired a new position in shares of AppLovin during the fourth quarter worth about $1,781,922,000. State Street Corp boosted its holdings in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Baillie Gifford & Co. grew its holdings in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company's stock valued at $514,418,000 after purchasing an additional 449,241 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction dated 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 sale, the chief technology officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company's stock.

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AppLovin Stock Down 5.4 %

Shares of APP traded down $18.67 during trading hours on Wednesday, reaching $327.62. The company's stock had a trading volume of 8,293,412 shares, compared to its average volume of 5,288,763. 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 firm has a market cap of $111.38 billion, a price-to-earnings ratio of 72.16, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a 50 day moving average of $354.67 and a two-hundred day moving average of $280.55. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (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%. As a group, research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on APP. Benchmark boosted their price objective on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Oppenheimer reissued an "outperform" rating and issued a $560.00 price objective (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. UBS Group increased their target price 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. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $438.28.

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.