Applied Finance Capital Management LLC Sells 2,013 Shares of AppLovin Co. (NASDAQ:APP)

Applied Finance Capital Management LLC lowered its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 31.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,420 shares of the company's stock after selling 2,013 shares during the period. Applied Finance Capital Management LLC's holdings in AppLovin were worth $1,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co raised its stake in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin in the 4th quarter worth approximately $28,000. Hemington Wealth Management grew its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Trading Down 5.3 %

NASDAQ APP traded down $13.88 during trading hours on Friday, reaching $249.95. The company's stock had a trading volume of 8,949,643 shares, compared to its average volume of 5,751,052. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $84.97 billion, a P/E ratio of 55.06, a P/E/G ratio of 3.02 and a beta of 2.39. The firm has a fifty day simple moving average of $327.20 and a 200-day simple moving average of $293.41.

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, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APP shares. UBS Group cut their price target on AppLovin from $630.00 to $450.00 and set a "buy" rating for the company in a report on Friday. Citigroup upped their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Oppenheimer reissued an "outperform" rating and issued a $560.00 target price on shares of AppLovin in a research note on Thursday, March 27th. JPMorgan Chase & Co. upped their price target on AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, FBN Securities assumed coverage on AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $424.84.

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % 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 over the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Company 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.