Strategic Global Advisors LLC Sells 16,065 Shares of AppLovin Co. (NASDAQ:APP)

Strategic Global Advisors LLC lowered its position in shares of AppLovin Co. (NASDAQ:APPFree Report) by 40.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,638 shares of the company’s stock after selling 16,065 shares during the period. Strategic Global Advisors LLC’s holdings in AppLovin were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP grew its position in AppLovin by 42.6% in the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after purchasing an additional 686,258 shares during the period. Blueshift Asset Management LLC bought a new stake in AppLovin in the 4th quarter worth approximately $409,000. Cunning Capital Partners LP bought a new stake in AppLovin in the 4th quarter worth approximately $1,508,000. FinTrust Capital Advisors LLC bought a new stake in AppLovin in the 4th quarter worth approximately $32,000. Finally, Boulder Hill Capital Management LP grew its position in shares of AppLovin by 155.8% during the 4th quarter. Boulder Hill Capital Management LP now owns 55,000 shares of the company’s stock valued at $2,192,000 after acquiring an additional 33,500 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on APP shares. TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. UBS Group boosted their price target on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer boosted their price target on shares of AppLovin from $85.00 to $97.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, May 9th. Finally, Morgan Stanley boosted their price target on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.72.

Check Out Our Latest Stock Analysis on AppLovin

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 5,620 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $84.97, for a total value of $477,531.40. Following the completion of the sale, the director now owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the sale, the chief financial officer now owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Scott Billings sold 5,620 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the transaction, the director now directly owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,729,014 shares of company stock valued at $1,477,210,615. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $80.38 on Tuesday. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. The company has a market capitalization of $26.45 billion, a P/E ratio of 47.85, a P/E/G ratio of 1.38 and a beta of 1.88. The company’s 50-day simple moving average is $77.46 and its two-hundred day simple moving average is $59.19. AppLovin Co. has a one year low of $21.87 and a one year high of $88.50.

AppLovin (NASDAQ:APPGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, equities analysts anticipate that AppLovin Co. will post 2.96 EPS for the current year.

About AppLovin

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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