Jackson Creek Investment Advisors LLC Has $580,000 Stake in AppLovin Co. (NASDAQ:APP)

Jackson Creek Investment Advisors LLC cut its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 58.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,791 shares of the company's stock after selling 2,552 shares during the quarter. Jackson Creek Investment Advisors LLC's holdings in AppLovin were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. New York State Teachers Retirement System increased its position in shares of AppLovin by 97.8% in the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company's stock worth $1,939,000 after purchasing an additional 7,342 shares during the period. Farther Finance Advisors LLC grew its stake in AppLovin by 150.6% during the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company's stock worth $133,000 after buying an additional 613 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in AppLovin by 2.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 52,214 shares of the company's stock valued at $6,817,000 after buying an additional 1,084 shares during the period. Asset Management One Co. Ltd. raised its position in shares of AppLovin by 13.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 70,698 shares of the company's stock valued at $9,230,000 after buying an additional 8,119 shares in the last quarter. Finally, Cozad Asset Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $1,095,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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AppLovin Trading Up 4.2 %

NASDAQ:APP traded up $10.85 during trading hours on Friday, hitting $270.48. 14,581,399 shares of the company were exchanged, compared to its average volume of 5,030,862. The stock has a market capitalization of $90.77 billion, a price-to-earnings ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a one year low of $59.30 and a one year high of $525.15. The company has a fifty day simple moving average of $363.84 and a 200 day simple moving average of $261.76. 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 (EPS) 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%. Sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. UBS Group lifted their price target on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Oppenheimer reaffirmed an "outperform" rating and issued a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on AppLovin from $325.00 to $475.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $452.29.

Insiders Place Their Bets

In related news, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 406,447 shares of company stock worth $140,537,281. 14.69% of the stock is currently owned by insiders.

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.