Globeflex Capital L P Trims Stock Position in AppLovin Co. (NASDAQ:APP)

Globeflex Capital L P lessened its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 53.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,848 shares of the company's stock after selling 3,326 shares during the period. Globeflex Capital L P's holdings in AppLovin were worth $922,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the 3rd quarter valued at $27,000. Riverview Trust Co increased its holdings in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares in the last quarter. Hemington Wealth Management raised its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% during the fourth 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. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is currently owned by insiders.

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AppLovin Trading Up 7.7 %

NASDAQ:APP traded up $20.89 on Friday, reaching $292.89. The company's stock had a trading volume of 10,053,786 shares, compared to its average volume of 5,187,542. The firm has a market cap of $99.57 billion, a price-to-earnings ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The stock has a 50 day moving average price of $357.00 and a 200 day moving average price of $267.94.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating 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%. On average, equities analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research reports. UBS Group boosted their target price on shares of AppLovin from $440.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Stifel Nicolaus boosted their price target on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Finally, Oppenheimer restated an "outperform" rating and issued a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $438.28.

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.