Mariner LLC Sells 24,537 Shares of AppLovin Co. (NASDAQ:APP)

Mariner LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,198 shares of the company's stock after selling 24,537 shares during the period. Mariner LLC owned about 0.06% of AppLovin worth $60,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. SVB Wealth LLC purchased a new position in shares of AppLovin in the fourth quarter valued at $1,781,922,000. Geode Capital Management LLC raised its stake in shares of AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after purchasing an additional 573,310 shares during the period. Baillie Gifford & Co. boosted its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Finally, Invesco Ltd. increased its position in shares of AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock valued at $977,639,000 after buying an additional 1,222,074 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on APP. UBS Group reduced their price objective on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Loop Capital reiterated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Piper Sandler lowered their price target on AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Benchmark raised their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their target price on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus price target of $424.84.

Insiders Place Their Bets

In other news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Up 3.7 %

Shares of NASDAQ:APP traded up $8.41 during midday trading on Friday, reaching $238.22. The company's stock had a trading volume of 5,278,241 shares, compared to its average volume of 5,810,542. 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 50 day moving average of $316.01 and a 200-day moving average of $295.27. The firm has a market capitalization of $80.98 billion, a P/E ratio of 52.47, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, research analysts anticipate that AppLovin Co. will post 6.87 earnings per share 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.