Wilmington Savings Fund Society FSB Sells 2,668 Shares of AppLovin Co. (NASDAQ:APP)

Wilmington Savings Fund Society FSB reduced its position in AppLovin Co. (NASDAQ:APP - Free Report) by 41.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,716 shares of the company's stock after selling 2,668 shares during the period. Wilmington Savings Fund Society FSB's holdings in AppLovin were worth $1,203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APP. FMR LLC raised its holdings in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company's stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the period. Jennison Associates LLC purchased a new stake in shares of AppLovin during the 4th quarter valued at about $414,462,000. WCM Investment Management LLC raised its holdings in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. Janus Henderson Group PLC raised its holdings in shares of AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company's stock valued at $306,897,000 after buying an additional 560,560 shares during the period. Finally, Eagle Asset Management Inc. increased its holdings in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock worth $68,297,000 after purchasing an additional 500,407 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Up 24.0 %

Shares of NASDAQ APP traded up $91.35 during mid-day trading on Thursday, reaching $471.67. 19,370,133 shares of the company traded hands, compared to its average volume of 4,778,688. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $158.29 billion, a PE ratio of 142.93, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. The company's fifty day moving average is $349.15 and its two-hundred day moving average is $226.34. AppLovin Co. has a fifty-two week low of $45.59 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data 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 122.24% and a net margin of 26.85%. On average, analysts expect that AppLovin Co. will post 4.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APP. Oppenheimer restated an "outperform" rating and set a $560.00 price objective (up from $480.00) on shares of AppLovin in a report on Thursday. Wedbush reiterated an "outperform" rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. BTIG Research lifted their target price on AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on AppLovin from $400.00 to $575.00 and gave the stock an "overweight" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $422.18.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares of the company's stock, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock valued at $267,640,144 in the last 90 days. 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.