AppLovin Co. (NASDAQ:APP) Stake Lessened by Friedenthal Financial

Friedenthal Financial trimmed its stake in shares of AppLovin Co. (NASDAQ:APP) by 58.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,429 shares of the company’s stock after selling 3,481 shares during the quarter. Friedenthal Financial’s holdings in AppLovin were worth $787,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in AppLovin in the third quarter worth $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the third quarter worth about $29,000. Finally, Quest Partners LLC bought a new position in AppLovin in the second quarter worth about $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Loop Capital boosted their price target on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. BTIG Research increased their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $338.06.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by insiders.

AppLovin Trading Down 0.9 %

Shares of AppLovin stock traded down $2.80 on Monday, reaching $315.68. 3,793,300 shares of the company were exchanged, compared to its average volume of 4,438,257. AppLovin Co. has a fifty-two week low of $39.43 and a fifty-two week high of $417.64. The firm has a market capitalization of $105.94 billion, a price-to-earnings ratio of 95.66, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. 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 stock has a fifty day moving average price of $318.41 and a 200-day moving average price of $181.16.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

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.