AppLovin Co. (NASDAQ:APP) Shares Sold by Virtu Financial LLC

Virtu Financial LLC cut its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 86.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,379 shares of the company's stock after selling 21,216 shares during the period. Virtu Financial LLC's holdings in AppLovin were worth $1,094,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Townsquare Capital LLC lifted its stake in AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock worth $1,037,000 after acquiring an additional 3,126 shares during the period. State Street Corp raised its holdings in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Zacks Investment Management lifted its position in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company's stock worth $13,854,000 after purchasing an additional 81,331 shares during the period. Toronto Dominion Bank boosted its stake in shares of AppLovin by 38.8% during the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company's stock valued at $3,286,000 after purchasing an additional 7,039 shares in the last quarter. Finally, Oxinas Partners Wealth Management LLC purchased a new position in AppLovin during the fourth quarter valued at approximately $1,081,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler upped their target price on AppLovin from $400.00 to $575.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Benchmark upped their price objective on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Loop Capital lifted their target price on AppLovin from $450.00 to $650.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. The Goldman Sachs Group boosted their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus target price of $438.28.

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Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, 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. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last 90 days. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

AppLovin stock traded down $65.92 during trading hours on Thursday, hitting $261.70. 20,114,866 shares of the stock traded hands, compared to its average volume of 5,350,879. The firm's 50 day moving average price is $354.67 and its 200-day moving average price is $280.55. 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 stock has a market capitalization of $88.97 billion, a price-to-earnings ratio of 57.64, 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.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates 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 expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.