AppLovin Co. (NASDAQ:APP) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA cut its position in AppLovin Co. (NASDAQ:APP) by 39.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,904 shares of the company’s stock after selling 4,491 shares during the quarter. GLOBALT Investments LLC GA’s holdings in AppLovin were worth $2,236,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. SVB Wealth LLC bought a new stake in AppLovin in the 4th quarter valued at about $1,781,922,000. State Street Corp lifted 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 valued at $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Baillie Gifford & Co. lifted its position in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 purchasing an additional 449,241 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Loop Capital lifted their price objective on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was 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. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is owned by insiders.

AppLovin Price Performance

NASDAQ APP opened at $292.89 on Monday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $99.57 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a 50 day moving average price of $357.00 and a two-hundred day moving average price of $269.20. AppLovin Co. has a 12-month low of $60.67 and a 12-month 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, beating 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%. As a group, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal 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.