GLOBALT Investments LLC GA Decreases Stake in AppLovin Co. (NASDAQ:APP)

GLOBALT Investments LLC GA trimmed its position in AppLovin Co. (NASDAQ:APP - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,904 shares of the company's stock after selling 4,491 shares during the period. GLOBALT Investments LLC GA's holdings in AppLovin were worth $2,236,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the third quarter worth $27,000. Riverview Trust Co grew its position 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 purchasing an additional 82 shares during the period. Hemington Wealth Management grew its position in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp grew its holdings in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after buying an additional 62 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Citigroup upped their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus raised their price target on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $438.28.

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AppLovin Stock Performance

Shares of NASDAQ APP traded down $26.47 during mid-day trading on Tuesday, hitting $280.39. The company had a trading volume of 7,037,294 shares, compared to its average volume of 5,210,407. The company has a market capitalization of $95.32 billion, a price-to-earnings ratio of 61.88, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock's 50-day moving average price is $356.03 and its 200-day moving average price is $270.72. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin 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 directly owns 88,389 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was 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 in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 322,871 shares of company stock worth $111,401,882. Company insiders own 14.69% of the company's stock.

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.