Sei Investments Co. Has $126.39 Million Position in AppLovin Co. (NASDAQ:APP)

Sei Investments Co. reduced its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 27.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 390,307 shares of the company's stock after selling 146,256 shares during the quarter. Sei Investments Co. owned 0.12% of AppLovin worth $126,393,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its stake 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 buying an additional 6,801,138 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at approximately $1,781,922,000. State Street Corp raised its position in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Baillie Gifford & Co. lifted its stake in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during 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 worth $514,418,000 after purchasing an additional 449,241 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. UBS Group raised their target price on shares of AppLovin from $440.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Oppenheimer reaffirmed an "outperform" rating and set a $560.00 target price (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Benchmark raised their price target on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Bank of America boosted their price objective on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $438.28.

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AppLovin Price Performance

NASDAQ:APP traded down $65.92 during mid-day trading on Thursday, reaching $261.70. 20,114,866 shares of the stock were exchanged, compared to its average volume of 5,350,950. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $88.97 billion, a PE ratio of 57.64, a PEG ratio of 3.02 and a beta of 2.33. The business has a fifty day moving average price of $354.67 and a 200 day moving average price of $280.55.

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

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 in the last three months. 14.69% of the stock is currently owned by 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.