Blair William & Co. IL Sells 9,024 Shares of AppLovin Co. (NASDAQ:APP)

Blair William & Co. IL lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 157,186 shares of the company’s stock after selling 9,024 shares during the period. Blair William & Co. IL’s holdings in AppLovin were worth $50,902,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in AppLovin during the fourth quarter valued at $25,000. Riverview Trust Co raised its position in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Fifth Third Bancorp grew its position in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Finally, Smithfield Trust Co bought a new stake in AppLovin during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were 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 owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The stock was 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 directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 in the last three months. 14.69% of the stock is owned by insiders.

AppLovin Trading Down 20.1 %

NASDAQ APP opened at $261.70 on Friday. The company’s 50-day simple moving average is $353.26 and its two-hundred day simple moving average is $280.42. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a market capitalization of $88.97 billion, a price-to-earnings ratio of 57.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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 analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the subject of several analyst reports. UBS Group raised their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Bank of America boosted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Benchmark increased their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $438.28.

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.