MML Investors Services LLC Lowers Stock Position in AppLovin Co. (NASDAQ:APP)

MML Investors Services LLC trimmed its position in AppLovin Co. (NASDAQ:APP - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,846 shares of the company's stock after selling 3,760 shares during the quarter. MML Investors Services LLC's holdings in AppLovin were worth $20,675,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in APP. FMR LLC boosted its position in shares of AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC purchased a new position in AppLovin during the 4th quarter valued at about $1,781,922,000. Baillie Gifford & Co. grew its position in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Norges Bank purchased a new stake in AppLovin during the fourth quarter worth about $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after purchasing an additional 2,373,885 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. UBS Group reduced their target price on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a report on Friday, April 11th. FBN Securities began coverage on shares of AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Bank of America boosted their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Citigroup lifted their target price on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price target on AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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 stock in a transaction on Friday, February 21st. The stock was 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 owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly 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. In the last ninety days, insiders have sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ:APP traded up $15.53 during midday trading on Thursday, hitting $267.88. 6,752,631 shares of the stock were exchanged, compared to its average volume of 5,869,778. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. 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 company has a 50 day moving average price of $300.39 and a 200-day moving average price of $298.16. The stock has a market cap of $91.07 billion, a P/E ratio of 59.00, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

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.