Interchange Capital Partners LLC Lowers Stake in AppLovin Co. (NASDAQ:APP)

Interchange Capital Partners LLC lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,298 shares of the company’s stock after selling 54 shares during the quarter. Interchange Capital Partners LLC’s holdings in AppLovin were worth $1,068,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Pathstone Holdings LLC increased its stake in AppLovin by 5.5% during the 3rd quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock valued at $2,594,000 after purchasing an additional 1,042 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in AppLovin in the 3rd quarter worth approximately $294,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in AppLovin in the third quarter valued at approximately $714,000. Commerce Bank raised its position in shares of AppLovin by 2.6% in the third quarter. Commerce Bank now owns 8,782 shares of the company’s stock valued at $1,146,000 after buying an additional 221 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of AppLovin by 89.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock worth $89,000 after acquiring an additional 322 shares during the period. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group raised their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler lifted their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock opened at $314.03 on Monday. The stock has a 50-day moving average price of $353.83 and a two-hundred day moving average price of $276.60. The stock has a market cap of $106.76 billion, a PE ratio of 69.17, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.