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

GLOBALT Investments LLC GA lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 39.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at about $27,000. Riverview Trust Co increased its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Hemington Wealth Management increased 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 purchasing an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin 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 approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 322,871 shares of company stock valued at $111,401,882 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP opened at $292.89 on Monday. The company’s 50 day simple moving average is $357.00 and its 200 day simple moving average is $269.20. 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 Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market capitalization of $99.57 billion, a PE ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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, sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group raised their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Benchmark raised their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

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.