AppLovin Co. (NASDAQ:APP) Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 28.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,497 shares of the company’s stock after selling 1,370 shares during the quarter. Keybank National Association OH’s holdings in AppLovin were worth $1,132,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth approximately $27,000. Riverview Trust Co increased its stake in shares of 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 period. Finally, Hemington Wealth Management increased its stake 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 during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APP. 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 note on Wednesday, January 8th. Loop Capital upped their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Piper Sandler upped their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Oppenheimer restated an “outperform” rating and set a $560.00 target price (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

Insider Buying and Selling at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 406,447 shares of company stock valued at $140,537,281. 14.69% of the stock is owned by company insiders.

AppLovin Stock Performance

Shares of AppLovin stock opened at $270.48 on Friday. The firm’s fifty day simple moving average is $365.13 and its 200-day simple moving average is $259.26. The stock has a market capitalization of $90.77 billion, a price-to-earnings ratio of 59.58, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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%. As a group, equities analysts forecast that AppLovin Co. will post 6.87 earnings per share 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.