Strategic Advocates LLC Has $1.37 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Strategic Advocates LLC cut its stake in shares of AppLovin Co. (NASDAQ:APP) by 65.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,218 shares of the company’s stock after selling 8,164 shares during the period. Strategic Advocates LLC’s holdings in AppLovin were worth $1,366,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its position in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after purchasing an additional 560,560 shares during the period. Eagle Asset Management Inc. lifted its position in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after buying an additional 449,241 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 in the last ninety days. 14.69% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on APP. The Goldman Sachs Group boosted their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group upped their target price on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Macquarie increased their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler initiated coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.29.

AppLovin Stock Down 0.2 %

AppLovin stock opened at $365.51 on Friday. The firm has a market capitalization of $122.66 billion, a price-to-earnings ratio of 110.76, a P/E/G ratio of 2.96 and a beta of 2.29. The firm has a 50 day simple moving average of $340.85 and a 200 day simple moving average of $205.26. AppLovin Co. has a 1-year low of $40.71 and a 1-year high of $417.64. 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 released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue was up 38.6% on a year-over-year basis. On average, analysts predict that AppLovin Co. will post 4.06 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.