US Bancorp DE Sells 10,116 Shares of AppLovin Co. (NASDAQ:APP)

US Bancorp DE trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 18.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,870 shares of the company’s stock after selling 10,116 shares during the quarter. US Bancorp DE’s holdings in AppLovin were worth $14,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. New York State Teachers Retirement System raised its stake in shares of AppLovin by 97.8% in the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after purchasing an additional 7,342 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of AppLovin in the third quarter valued at $296,000. Stephens Inc. AR raised its stake in shares of AppLovin by 56.4% in the third quarter. Stephens Inc. AR now owns 6,620 shares of the company’s stock valued at $864,000 after purchasing an additional 2,387 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of AppLovin by 150.6% in the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock valued at $133,000 after purchasing an additional 613 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of AppLovin by 2.1% in the third quarter. Janney Montgomery Scott LLC now owns 52,214 shares of the company’s stock valued at $6,817,000 after purchasing an additional 1,084 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APP. Wedbush restated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Stifel Nicolaus increased their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Piper Sandler increased their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Four investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Price Performance

AppLovin stock opened at $337.34 on Tuesday. The business’s 50-day simple moving average is $367.64 and its 200 day simple moving average is $257.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $113.21 billion, a price-to-earnings ratio of 74.30, a P/E/G ratio of 3.02 and a beta of 2.30. AppLovin Co. has a 12-month low of $59.30 and a 12-month high of $525.15.

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

Insider Buying and Selling

In other news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares in the company, valued at $76,032,757.84. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin 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 transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,947 shares of company stock worth $75,810,416 over the last three months. 14.69% of the stock is currently owned by company insiders.

AppLovin Company 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.