AppLovin Co. (NASDAQ:APP) is Harvest Investment Services LLC's 6th Largest Position

Harvest Investment Services LLC decreased its position in AppLovin Co. (NASDAQ:APP - Free Report) by 18.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,398 shares of the company's stock after selling 5,439 shares during the quarter. AppLovin comprises about 1.9% of Harvest Investment Services LLC's holdings, making the stock its 6th largest position. Harvest Investment Services LLC's holdings in AppLovin were worth $7,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anomaly Capital Management LP acquired a new stake in shares of AppLovin during the fourth quarter worth $64,495,000. Hsbc Holdings PLC raised its holdings in AppLovin by 93.0% in the fourth quarter. Hsbc Holdings PLC now owns 154,590 shares of the company's stock valued at $50,082,000 after buying an additional 74,510 shares during the period. Soros Capital Management LLC purchased a new position in shares of AppLovin in the 4th quarter valued at $10,719,000. IHT Wealth Management LLC lifted its position in AppLovin by 4.0% during the 4th quarter. IHT Wealth Management LLC now owns 2,514 shares of the company's stock worth $814,000 after acquiring an additional 97 shares in the last quarter. Finally, Hunting Hill Global Capital LLC acquired a new position in AppLovin in the 4th quarter worth $392,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

AppLovin stock traded up $8.95 during mid-day trading on Friday, hitting $276.83. The company's stock had a trading volume of 5,766,189 shares, compared to its average volume of 5,877,451. The stock has a market capitalization of $94.11 billion, a P/E ratio of 60.98, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock's fifty day moving average price is $295.54 and its two-hundred day moving average price is $299.04. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last announced 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 return on equity of 188.55% and a net margin of 33.54%. Research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on APP. Citigroup upped their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Morgan Stanley raised AppLovin from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Benchmark boosted their price objective on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and an average target price of $414.05.

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.