Qtron Investments LLC Trims Stock Position in AppLovin Co. (NASDAQ:APP)

Qtron Investments LLC cut its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 61.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 946 shares of the company's stock after selling 1,525 shares during the quarter. Qtron Investments LLC's holdings in AppLovin were worth $306,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the fourth quarter worth about $25,000. Riverview Trust Co increased its stake in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $28,000. Hemington Wealth Management raised its holdings in shares of 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 period. Finally, Fifth Third Bancorp grew its holdings in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after purchasing an additional 62 shares during the period. 41.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APP. Loop Capital reaffirmed a "buy" rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. Wells Fargo & Company cut their target price on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. UBS Group lowered their price target on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday. Jefferies Financial Group raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $424.84.

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Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company's stock.

AppLovin Price Performance

NASDAQ:APP traded up $9.40 during midday trading on Tuesday, hitting $245.47. The company had a trading volume of 6,762,119 shares, compared to its average volume of 5,774,430. The company has a market capitalization of $83.45 billion, a PE ratio of 54.07, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The stock's fifty day moving average price is $324.56 and its 200-day moving average price is $295.32.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS 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, research analysts expect 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.