Ellevest Inc. Sells 152 Shares of AppLovin Co. (NASDAQ:APP)

Ellevest Inc. decreased its holdings in AppLovin Co. (NASDAQ:APP) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,544 shares of the company’s stock after selling 152 shares during the quarter. Ellevest Inc.’s holdings in AppLovin were worth $500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its position in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. SVB Wealth LLC purchased a new position in AppLovin in the 4th quarter worth approximately $1,781,922,000. Baillie Gifford & Co. boosted its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Norges Bank bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after acquiring an additional 2,373,885 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin 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 $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $328.79 on Friday. 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 firm has a market cap of $111.77 billion, a PE ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm’s 50 day simple moving average is $275.55 and its 200-day simple moving average is $310.54. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on APP. FBN Securities assumed coverage on shares of AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research report on Thursday. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, UBS Group upped their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

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.