Blair William & Co. IL Lowers Position in AppLovin Co. (NASDAQ:APP)

Blair William & Co. IL decreased its position in shares of AppLovin Co. (NASDAQ:APP) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 157,186 shares of the company’s stock after selling 9,024 shares during the period. Blair William & Co. IL’s holdings in AppLovin were worth $50,902,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Townsquare Capital LLC boosted its stake in AppLovin by 64.9% during 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 in the last quarter. State Street Corp lifted its holdings in shares of AppLovin by 8.6% during the third 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 during the last quarter. Zacks Investment Management boosted 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 in the last quarter. Toronto Dominion Bank grew its stake in shares of AppLovin by 38.8% in the 3rd quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock worth $3,286,000 after buying an additional 7,039 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC bought a new position in AppLovin during the 4th quarter valued at approximately $1,081,000. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last quarter. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

APP opened at $261.70 on Friday. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a market cap of $88.97 billion, a price-to-earnings ratio of 57.64, a PEG 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. The company’s 50 day moving average is $353.26 and its 200 day moving average is $280.42.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on APP. JPMorgan Chase & Co. boosted their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group increased their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $438.28.

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.