International Assets Investment Management LLC Has $231,000 Position in AppLovin Co. (NASDAQ:APP)

International Assets Investment Management LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 98.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 676 shares of the company's stock after selling 42,536 shares during the period. International Assets Investment Management LLC's holdings in AppLovin were worth $231,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APP. Range Financial Group LLC bought a new position in AppLovin during the fourth quarter valued at about $2,237,000. Diversified Trust Co increased its position in shares of AppLovin by 27.1% during the fourth quarter. Diversified Trust Co now owns 5,034 shares of the company's stock valued at $1,630,000 after purchasing an additional 1,072 shares during the period. Silverleafe Capital Partners LLC acquired a new position in shares of AppLovin in the fourth quarter valued at $963,000. CWA Asset Management Group LLC lifted its position in AppLovin by 26.6% in the fourth quarter. CWA Asset Management Group LLC now owns 16,768 shares of the company's stock worth $5,430,000 after purchasing an additional 3,520 shares during the period. Finally, Nordea Investment Management AB boosted its stake in AppLovin by 58.1% during the fourth quarter. Nordea Investment Management AB now owns 138,619 shares of the company's stock worth $44,901,000 after buying an additional 50,928 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company's stock, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $5.41 during midday trading on Tuesday, hitting $321.09. 3,220,987 shares of the company's stock were exchanged, compared to its average volume of 4,378,135. AppLovin Co. has a 12 month low of $39.43 and a 12 month high of $417.64. The company's 50 day moving average price is $324.66 and its 200 day moving average price is $184.47. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $107.76 billion, a PE ratio of 97.30, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin's quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America raised their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Loop Capital boosted their price target on AppLovin from $385.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Piper Sandler initiated coverage on AppLovin in a research note on Wednesday, November 20th. They set an "overweight" rating and a $400.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $200.00 to $325.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have given 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 an average target price of $338.06.

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.