AppLovin Co. (NASDAQ:APP) Position Cut by Aviva PLC

Aviva PLC lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 12.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 71,118 shares of the company’s stock after selling 10,003 shares during the period. Aviva PLC’s holdings in AppLovin were worth $23,030,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of APP. State Street Corp grew its position in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Zacks Investment Management grew its holdings in AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after buying an additional 81,331 shares in the last quarter. Toronto Dominion Bank increased its position in AppLovin by 38.8% in the 3rd quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock valued at $3,286,000 after acquiring an additional 7,039 shares during the period. Oxinas Partners Wealth Management LLC bought a new stake in AppLovin during the 4th quarter valued at $1,081,000. Finally, Virtu Financial LLC acquired a new position in AppLovin during the 3rd quarter worth $3,211,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APP. Jefferies Financial Group lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. UBS Group boosted their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Finally, Loop Capital reaffirmed a “buy” rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Stock Performance

Shares of APP stock opened at $219.37 on Monday. The stock’s fifty day simple moving average is $342.89 and its 200-day simple moving average is $289.58. The company has a market capitalization of $74.58 billion, a price-to-earnings ratio of 48.32, a P/E/G ratio of 3.02 and a beta of 2.39. 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 Co. has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP) last issued its 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 return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share 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.