GLOBALT Investments LLC GA Sells 4,491 Shares of AppLovin Co. (NASDAQ:APP)

GLOBALT Investments LLC GA lowered its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 39.4% in the fourth quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of APP. Townsquare Capital LLC grew its stake in shares of AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock worth $1,037,000 after buying an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at $224,000. State Street Corp grew its position in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock worth $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management raised its position in AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company's stock valued at $13,854,000 after purchasing an additional 81,331 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 4.5 %

NASDAQ APP traded up $12.51 on Wednesday, hitting $291.35. 2,920,052 shares of the company were exchanged, compared to its average volume of 5,198,059. 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 company has a market cap of $99.05 billion, a PE ratio of 64.59, a PEG ratio of 3.02 and a beta of 2.33. The stock has a fifty day moving average of $355.01 and a 200-day moving average of $272.03. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15.

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AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results 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, analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

APP has been the subject of several recent research reports. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Oppenheimer reaffirmed an "outperform" rating and set a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Loop Capital boosted their price objective on shares of AppLovin from $450.00 to $650.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. The Goldman Sachs Group raised their target price on AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, Jefferies Financial Group upped their price target on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.28.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company's stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 322,871 shares of company stock worth $111,401,882. 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.