C M Bidwell & Associates Ltd. Sells 1,087 Shares of AppLovin Co. (NASDAQ:APP)

C M Bidwell & Associates Ltd. cut its stake in shares of AppLovin Co. (NASDAQ:APP) by 33.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,146 shares of the company’s stock after selling 1,087 shares during the quarter. C M Bidwell & Associates Ltd.’s holdings in AppLovin were worth $695,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of APP. Advisors Asset Management Inc. raised its holdings in AppLovin by 89.7% in 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 last quarter. Cerity Partners LLC raised its stake in shares of AppLovin by 36.3% in the third quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock worth $2,366,000 after purchasing an additional 4,822 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares in the last quarter. Freedom Investment Management Inc. purchased a new stake in shares of AppLovin during the third quarter valued at $231,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AppLovin by 20.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,657 shares of the company’s stock worth $5,830,000 after buying an additional 7,638 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Piper Sandler lifted their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group upped their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $435.47.

AppLovin Stock Up 4.1 %

Shares of APP opened at $272.38 on Monday. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The firm has a fifty day moving average price of $351.86 and a 200-day moving average price of $284.38. The firm has a market capitalization of $92.60 billion, a P/E ratio of 60.00, a P/E/G 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 (NASDAQ:APP) last issued its earnings results 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 net margin of 33.54% and a return on equity of 188.55%. Equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

About AppLovin

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.