AppLovin Co. (NASDAQ:APP) Shares Sold by GQG Partners LLC

GQG Partners LLC trimmed its stake in shares of AppLovin Co. (NASDAQ:APP) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,438,557 shares of the company’s stock after selling 1,165,779 shares during the quarter. AppLovin accounts for 4.1% of GQG Partners LLC’s portfolio, making the stock its 7th largest holding. GQG Partners LLC’s holdings in AppLovin were worth $2,732,658,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of APP. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the 4th quarter worth about $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Smithfield Trust Co acquired a new position in shares of AppLovin in the 4th quarter worth approximately $32,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 8.2 %

Shares of AppLovin stock opened at $339.72 on Tuesday. The business has a fifty day simple moving average of $354.31 and a 200 day simple moving average of $278.37. The stock has a market cap of $115.49 billion, a PE ratio of 74.83, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $60.67 and a 12 month 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, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on APP shares. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 price target (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Macquarie increased their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $438.28.

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.