AppLovin Co. (NYSE:APP) Shares Sold by Aviva PLC

Aviva PLC trimmed its holdings in AppLovin Co. (NYSE:APP – Get Rating) by 71.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,209 shares of the company’s stock after selling 74,437 shares during the period. Aviva PLC’s holdings in AppLovin were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pearl River Capital LLC acquired a new stake in shares of AppLovin in the third quarter worth approximately $380,000. US Bancorp DE boosted its holdings in shares of AppLovin by 197.4% in the 3rd quarter. US Bancorp DE now owns 4,660 shares of the company’s stock valued at $91,000 after purchasing an additional 3,093 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of AppLovin during the 4th quarter valued at $276,000. Tiger Global Management LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth $96,920,000. Finally, Philadelphia Trust Co. purchased a new position in shares of AppLovin in the 4th quarter worth $527,000. Hedge funds and other institutional investors own 38.19% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $21.91, for a total value of $1,095,500.00. Following the completion of the transaction, the insider now owns 798,054 shares in the company, valued at approximately $17,485,363.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $21.91, for a total value of $1,095,500.00. Following the transaction, the insider now directly owns 798,054 shares in the company, valued at approximately $17,485,363.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 65,155 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $13.78, for a total transaction of $897,835.90. Following the sale, the chief marketing officer now directly owns 1,564,539 shares of the company’s stock, valued at approximately $21,559,347.42. The disclosure for this sale can be found here. Insiders have sold 16,132,703 shares of company stock worth $337,867,226 over the last quarter. 12.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on APP. Citigroup dropped their price target on AppLovin from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, February 14th. DA Davidson raised their price target on shares of AppLovin from $28.00 to $32.00 in a report on Thursday, May 11th. Morgan Stanley boosted their price objective on shares of AppLovin from $16.00 to $17.50 in a research note on Thursday, May 11th. UBS Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $59.00 to $16.00 in a research report on Thursday, February 23rd. Finally, Credit Suisse Group reduced their target price on shares of AppLovin from $57.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $24.94.

AppLovin Stock Performance

AppLovin stock opened at $25.12 on Monday. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average of $16.67 and a 200-day moving average of $14.08. The stock has a market cap of $9.16 billion, a P/E ratio of -114.18, a price-to-earnings-growth ratio of 3.61 and a beta of 1.94. AppLovin Co. has a 52 week low of $9.14 and a 52 week high of $44.76.

AppLovin (NYSE:APP – Get Rating) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company had revenue of $715.41 million for the quarter, compared to the consensus estimate of $693.58 million. AppLovin had a negative net margin of 2.82% and a negative return on equity of 0.15%. On average, analysts expect that AppLovin Co. will post 0.35 EPS for the current fiscal year.

AppLovin Profile

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AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.