AppLovin Co. (NASDAQ:APP) Stock Holdings Reduced by Horizon Investment Services LLC

Horizon Investment Services LLC cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 4.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,886 shares of the company’s stock after selling 1,356 shares during the quarter. AppLovin comprises approximately 4.3% of Horizon Investment Services LLC’s holdings, making the stock its 2nd biggest position. Horizon Investment Services LLC’s holdings in AppLovin were worth $10,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Townsquare Capital LLC increased its holdings in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after acquiring an additional 3,126 shares during the period. State Street Corp increased its stake in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Zacks Investment Management raised its holdings in shares of AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying an additional 81,331 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of 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 purchasing an additional 7,039 shares in the last quarter. Finally, Oxinas Partners Wealth Management LLC purchased a new position in shares of AppLovin in the fourth quarter worth about $1,081,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of AppLovin stock opened at $272.38 on Friday. The firm’s 50-day moving average is $351.86 and its 200 day moving average is $281.71. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $92.60 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Loop Capital reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday. Piper Sandler upped their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Oppenheimer reissued an “outperform” rating on shares of AppLovin in a research note on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.47.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 over the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin 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.