BI Asset Management Fondsmaeglerselskab A S Lowers Holdings in AppLovin Co. (NASDAQ:APP)

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,675 shares of the company's stock after selling 40,494 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in AppLovin were worth $22,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oxinas Partners Wealth Management LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $1,081,000. Virtu Financial LLC acquired a new position in AppLovin in the third quarter valued at approximately $3,211,000. Franchise Capital Ltd purchased a new position in AppLovin in the fourth quarter worth approximately $2,811,000. Barclays PLC increased its stake in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after acquiring an additional 153,248 shares during the last quarter. Finally, Tcfg Wealth Management LLC purchased a new stake in AppLovin in the fourth quarter valued at $369,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on APP shares. FBN Securities started coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective for the company. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Jefferies Financial Group lifted their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, UBS Group decreased their price target on AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $414.05.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last 90 days. Corporate insiders own 14.69% of the company's stock.

AppLovin Stock Up 7.2 %

APP stock traded up $17.21 during trading on Wednesday, hitting $254.92. 5,300,345 shares of the company's stock were exchanged, compared to its average volume of 5,845,643. The business has a 50-day moving average price of $305.55 and a two-hundred day moving average price of $298.48. 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 stock has a market capitalization of $86.66 billion, a price-to-earnings ratio of 56.15, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

AppLovin Company 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.