AppLovin Co. (NASDAQ:APP) Shares Sold by No Street GP LP

No Street GP LP trimmed its stake in AppLovin Co. (NASDAQ:APP) by 41.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 430,000 shares of the company’s stock after selling 305,000 shares during the period. AppLovin makes up approximately 9.2% of No Street GP LP’s holdings, making the stock its 2nd biggest position. No Street GP LP’s holdings in AppLovin were worth $139,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC boosted its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. SVB Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at $1,781,922,000. Geode Capital Management LLC boosted its position in shares of AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after buying an additional 573,310 shares during the period. Baillie Gifford & Co. boosted its position in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock valued at $977,639,000 after buying an additional 1,222,074 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $370.10 on Wednesday. The firm has a market cap of $125.82 billion, a price-to-earnings ratio of 81.52, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company’s fifty day moving average is $278.36 and its 200-day moving average is $314.35. 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, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The business’s quarterly revenue was up 40.3% on a year-over-year basis. Equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on APP. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Piper Sandler upped their target price on AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. UBS Group increased their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were 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 owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company’s stock.

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.