AppLovin Co. (NASDAQ:APP) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,819,083 shares of the company's stock after selling 402,960 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.44% of AppLovin worth $1,560,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Barclays PLC increased its holdings in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares during the last quarter. Invst LLC boosted its position in shares of AppLovin by 23.2% during the third quarter. Invst LLC now owns 6,812 shares of the company's stock worth $889,000 after buying an additional 1,284 shares during the period. Virtu Financial LLC acquired a new stake in shares of AppLovin in the third quarter valued at $3,211,000. SOA Wealth Advisors LLC. purchased a new stake in shares of AppLovin in the 3rd quarter valued at $59,000. Finally, Pine Valley Investments Ltd Liability Co acquired a new position in AppLovin during the 3rd quarter worth about $228,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Up 3.3 %

NASDAQ:APP traded up $8.95 during midday trading on Friday, hitting $276.83. 5,766,189 shares of the company were exchanged, compared to its average volume of 5,877,465. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a market capitalization of $94.11 billion, a PE ratio of 60.98, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a fifty day simple moving average of $295.54 and a 200 day simple moving average of $299.04.

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

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on APP shares. FBN Securities started coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price target on the stock. The Goldman Sachs Group cut their target price on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Piper Sandler decreased their price target on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, UBS Group reduced their price objective 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 issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $414.05.

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.