Annex Advisory Services LLC cut its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,069 shares of the company's stock after selling 74,150 shares during the quarter. AppLovin accounts for about 1.6% of Annex Advisory Services LLC's investment portfolio, making the stock its 15th largest holding. Annex Advisory Services LLC owned 0.05% of AppLovin worth $54,426,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in APP. WCM Investment Management LLC grew its position in AppLovin by 10.5% during the third 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 during the period. FMR LLC lifted its holdings in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company's stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. Lone Pine Capital LLC lifted its holdings in AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company's stock valued at $474,557,000 after purchasing an additional 382,767 shares in the last quarter. State Street Corp lifted its holdings in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in AppLovin by 12.8% during 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 in the last quarter. 41.85% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on APP shares. Benchmark started coverage on shares of AppLovin in a research report on Friday, January 10th. They set a "buy" rating and a $375.00 price objective on the stock. BTIG Research boosted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Loop Capital upped their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Bank of America upped their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, Jefferies Financial Group upped 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. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $338.06.
Check Out Our Latest Research Report on APP
AppLovin Stock Performance
Shares of AppLovin stock traded up $10.33 during midday trading on Monday, hitting $342.34. The company had a trading volume of 4,173,415 shares, compared to its average volume of 3,899,418. The stock has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. 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 fifty day simple moving average of $330.75 and a 200 day simple moving average of $189.78. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64.
AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin's revenue was up 38.6% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. As a group, analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company's stock, valued at $204,688,365.50. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company's stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by insiders.
About AppLovin
(
Free Report)
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.
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