Thrivent Financial for Lutherans Has $5.16 Million Position in AppLovin Co. (NASDAQ:APP)

Thrivent Financial for Lutherans lowered its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 38.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,940 shares of the company's stock after selling 9,870 shares during the period. Thrivent Financial for Lutherans' holdings in AppLovin were worth $5,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pathstone Holdings LLC increased its position in AppLovin by 5.5% during the third quarter. Pathstone Holdings LLC now owns 19,866 shares of the company's stock worth $2,594,000 after buying an additional 1,042 shares during the last quarter. Prospera Financial Services Inc acquired a new position in AppLovin during the third quarter valued at approximately $294,000. Commerce Bank lifted its stake in shares of AppLovin by 2.6% in the third quarter. Commerce Bank now owns 8,782 shares of the company's stock worth $1,146,000 after buying an additional 221 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of AppLovin by 89.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 681 shares of the company's stock worth $89,000 after buying an additional 322 shares during the period. Finally, Raymond James Trust N.A. grew its stake in AppLovin by 25.8% in the 3rd quarter. Raymond James Trust N.A. now owns 3,279 shares of the company's stock valued at $428,000 after buying an additional 672 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

NASDAQ APP traded down $65.92 during trading hours on Thursday, reaching $261.70. 20,114,866 shares of the company's stock were exchanged, compared to its average volume of 5,356,220. The firm has a fifty day moving average of $353.26 and a 200-day moving average of $280.42. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The stock has a market cap of $88.97 billion, a PE ratio of 57.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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AppLovin (NASDAQ:APP - Get Free Report) last announced its 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%. On average, equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Oppenheimer restated an "outperform" rating and set a $560.00 price target (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Citigroup upped their price target on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, Benchmark increased their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $438.28.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction 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 transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. This represents a 16.53 % 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, Director Herald Y. Chen sold 200,000 shares of the firm'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 completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % 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 worth $106,401,841. Corporate insiders own 14.69% of the company's stock.

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.