Bessemer Group Inc. Sells 1,970 Shares of AppLovin Co. (NASDAQ:APP)

Bessemer Group Inc. lowered its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,217 shares of the company's stock after selling 1,970 shares during the quarter. Bessemer Group Inc.'s holdings in AppLovin were worth $13,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter worth about $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC bought a new stake in AppLovin in the 4th quarter valued at $28,000. Hemington Wealth Management grew its position in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Up 2.8 %

NASDAQ:APP traded up $6.53 on Tuesday, reaching $242.60. The company's stock had a trading volume of 3,590,711 shares, compared to its average volume of 5,762,274. The firm has a market cap of $82.47 billion, a PE ratio of 53.44, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business's 50-day moving average price is $324.56 and its two-hundred day moving average price is $295.32. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

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AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results 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%. Equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their target price on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective on AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Monday, March 17th. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $560.00 price objective on shares of AppLovin in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $424.84.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last quarter. Company 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.