Gulf International Bank UK Ltd Sells 71 Shares of AppLovin Co. (NASDAQ:APP)

Gulf International Bank UK Ltd cut its holdings in AppLovin Co. (NASDAQ:APP) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,437 shares of the company’s stock after selling 71 shares during the period. Gulf International Bank UK Ltd’s holdings in AppLovin were worth $4,998,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Mn Services Vermogensbeheer B.V. increased its position in shares of AppLovin by 1.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 62,100 shares of the company’s stock valued at $20,110,000 after purchasing an additional 1,000 shares during the last quarter. K.J. Harrison & Partners Inc bought a new position in AppLovin during the fourth quarter valued at $219,000. New York Life Investment Management LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at $201,000. NewEdge Wealth LLC lifted its holdings in shares of AppLovin by 8.4% in the 4th quarter. NewEdge Wealth LLC now owns 18,528 shares of the company’s stock worth $6,000,000 after acquiring an additional 1,442 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of AppLovin during the 4th quarter worth about $1,389,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on APP shares. Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler upped their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $452.29.

AppLovin Stock Down 3.2 %

Shares of AppLovin stock opened at $320.49 on Friday. 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 cap of $107.55 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 3.02 and a beta of 2.30. The firm’s 50-day moving average is $368.10 and its two-hundred day moving average is $251.23. AppLovin Co. has a 1 year low of $57.40 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last released 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%. As a group, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 224,872 shares of company stock valued at $82,158,554. 14.69% of the stock is currently owned by corporate insiders.

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.