AXQ Capital LP Has $549,000 Position in AppLovin Co. (NASDAQ:APP)

AXQ Capital LP trimmed its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 87.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,695 shares of the company's stock after selling 11,573 shares during the period. AXQ Capital LP's holdings in AppLovin were worth $549,000 at the end of the most recent quarter.

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

AppLovin Price Performance

Shares of APP traded down $65.92 during mid-day trading on Thursday, hitting $261.70. 20,114,866 shares of the company traded hands, compared to its average volume of 5,351,011. The business has a 50-day moving average of $354.67 and a 200 day moving average of $280.55. AppLovin Co. has a one year low of $60.67 and a one 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 stock has a market capitalization of $88.97 billion, a price-to-earnings ratio of 57.64, a PEG ratio of 3.02 and a beta of 2.33.

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

Analysts Set New Price Targets

APP has been the subject of a number of research analyst reports. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Loop Capital upped their price objective on AppLovin from $450.00 to $650.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Benchmark boosted their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. One 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $438.28.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction 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 completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company's stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by corporate insiders.

AppLovin 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.