Ieq Capital LLC Sells 7,718 Shares of AppLovin Co. (NASDAQ:APP)

Ieq Capital LLC decreased its stake in shares of AppLovin Co. (NASDAQ:APP) by 16.3% in the 4th quarter, Holdings Channel reports. The fund owned 39,562 shares of the company’s stock after selling 7,718 shares during the quarter. Ieq Capital LLC’s holdings in AppLovin were worth $12,811,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in APP. FMR LLC increased its position in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Jennison Associates LLC bought a new position in AppLovin in the fourth quarter valued at $414,462,000. WCM Investment Management LLC grew its position in 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 in the last quarter. Finally, Janus Henderson Group PLC grew its position in 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 in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APP. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. UBS Group raised their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company raised their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $430.41.

AppLovin Stock Performance

NASDAQ APP opened at $494.17 on Thursday. The firm has a 50-day moving average of $361.30 and a 200-day moving average of $239.37. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $165.84 billion, a PE ratio of 108.85, a P/E/G ratio of 3.84 and a beta of 2.30. AppLovin Co. has a 52-week low of $54.50 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (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%. On average, sell-side analysts anticipate that AppLovin Co. will post 6.64 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the sale, the chief financial officer now owns 213,336 shares in the company, valued at $70,970,487.12. The trade was a 9.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 217,403 shares of company stock worth $72,325,024. 14.69% of the stock is owned by insiders.

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.