American Trust Sells 2,210 Shares of AppLovin Co. (NASDAQ:APP)

American Trust cut its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 27.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,820 shares of the company's stock after selling 2,210 shares during the quarter. American Trust's holdings in AppLovin were worth $760,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in AppLovin by 622.8% during the third 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 last quarter. Fred Alger Management LLC acquired a new stake in AppLovin during the 2nd quarter worth approximately $290,655,000. 1832 Asset Management L.P. boosted its stake in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company's stock valued at $124,522,000 after purchasing an additional 1,357,400 shares during the period. WCM Investment Management LLC grew its holdings in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company's stock worth $306,897,000 after buying an additional 560,560 shares during the period. Institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Citigroup boosted their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an "overweight" rating and a $400.00 target price on the stock. Loop Capital upped their target price on AppLovin from $181.00 to $385.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Benchmark restated a "sell" rating and issued a $66.00 price target on shares of AppLovin in a research report on Thursday, November 7th. One 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $292.79.

AppLovin Price Performance

AppLovin stock traded down $1.74 during mid-day trading on Friday, reaching $324.47. The company had a trading volume of 4,700,745 shares, compared to its average volume of 4,585,837. The business has a fifty day simple moving average of $242.30 and a 200 day simple moving average of $142.69. The company has a market cap of $108.89 billion, a P/E ratio of 98.32, a P/E/G ratio of 4.17 and a beta of 2.28. 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 Co. has a fifty-two week low of $37.40 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin's quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. On average, equities research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 17,925 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 872,896 shares of company stock valued at $279,773,021 over the last quarter. 14.69% of the stock is 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.