AppLovin Co. (NASDAQ:APP) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP decreased its position in AppLovin Co. (NASDAQ:APP) by 17.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,544 shares of the company’s stock after selling 1,173 shares during the quarter. Mount Lucas Management LP’s holdings in AppLovin were worth $1,795,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of APP. Farther Finance Advisors LLC lifted its holdings in AppLovin by 150.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock valued at $133,000 after acquiring an additional 613 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. CWA Asset Management Group LLC acquired a new stake in AppLovin during the third quarter valued at approximately $1,730,000. Verdence Capital Advisors LLC boosted its holdings in AppLovin by 128.9% during the third quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company’s stock worth $1,439,000 after buying an additional 6,206 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of AppLovin by 131.8% during the 3rd quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock worth $1,258,000 after acquiring an additional 5,480 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin 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 of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, 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 406,047 shares of company stock valued at $140,390,817 over the last quarter. Insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Benchmark upped their target price on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Citigroup lifted their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Loop Capital upped their price target on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Trading Up 4.2 %

NASDAQ:APP opened at $270.48 on Monday. 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 company has a market capitalization of $90.77 billion, a P/E ratio of 59.58, a P/E/G ratio of 3.02 and a beta of 2.33. The stock’s 50 day moving average price is $363.84 and its 200 day moving average price is $262.97. AppLovin Co. has a 52 week low of $59.30 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. On average, research 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.