Versor Investments LP Decreases Stock Holdings in AppLovin Co. (NASDAQ:APP)

Versor Investments LP reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 77.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,200 shares of the company’s stock after selling 7,555 shares during the quarter. Versor Investments LP’s holdings in AppLovin were worth $712,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. WCM Investment Management LLC increased its position in 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 purchasing an additional 1,029,009 shares during the period. FMR LLC increased its position in 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 purchasing an additional 6,801,138 shares during the period. State Street Corp grew its position in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the period. Baillie Gifford & Co. grew its position in shares of 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 buying an additional 4,010,520 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after buying an additional 449,241 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 target price (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Finally, Bank of America upped their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $452.29.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Herald Y. Chen sold 400 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,872 shares of company stock worth $82,158,554 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP opened at $325.78 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 stock has a market capitalization of $109.33 billion, a P/E ratio of 71.76, a P/E/G ratio of 3.02 and a beta of 2.30. The company’s 50-day simple moving average is $367.79 and its two-hundred day simple moving average is $252.97. AppLovin Co. has a 52-week low of $57.40 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

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.