Swiss National Bank Cuts Stock Holdings in AppLovin Co. (NASDAQ:APP)

Swiss National Bank trimmed its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,390 shares of the company's stock after selling 18,900 shares during the quarter. Swiss National Bank owned approximately 0.18% of AppLovin worth $190,215,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the 4th quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the 3rd quarter worth $27,000. Riverview Trust Co increased its holdings in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after buying an additional 62 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $272.00 on Friday. The firm has a market capitalization of $92.47 billion, a P/E ratio of 59.91, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business's 50-day simple moving average is $358.15 and its 200-day simple moving average is $265.29.

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AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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%. Equities analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Macquarie upped their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Loop Capital upped their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $438.28.

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was 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. The trade was a 24.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is currently owned by insiders.

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.

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