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

Tidal Investments LLC lowered its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 33.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,754 shares of the company's stock after selling 13,415 shares during the period. Tidal Investments LLC's holdings in AppLovin were worth $3,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock worth $131,000 after purchasing an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company's stock worth $370,000 after purchasing an additional 60 shares in the last quarter. HM Payson & Co. increased its position in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC increased its position in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock valued at $4,371,000 after acquiring an additional 104 shares during the period. Finally, Ashton Thomas Securities LLC increased its position in AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company's stock valued at $626,000 after acquiring an additional 121 shares during the period. Institutional investors own 41.85% of the company's stock.

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 872,896 shares of company stock worth $279,773,021 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Macquarie increased their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Benchmark reaffirmed a "sell" rating and issued a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America raised shares of AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus increased their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $292.79.

AppLovin Stock Down 0.5 %

Shares of AppLovin stock traded down $1.74 during trading on Friday, hitting $324.47. 4,704,074 shares of the stock traded hands, compared to its average volume of 4,585,837. The stock's fifty day simple moving average is $246.00 and its 200 day simple moving average is $144.80. AppLovin Co. has a 52-week low of $37.40 and a 52-week high of $417.64. 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 firm has a market cap of $108.89 billion, a P/E ratio of 98.32, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28.

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

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.