AppLovin Co. (NASDAQ:APP) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in AppLovin Co. (NASDAQ:APP) by 0.3% in the fourth quarter, HoldingsChannel reports. The fund owned 996,779 shares of the company’s stock after selling 3,499 shares during the period. American Century Companies Inc.’s holdings in AppLovin were worth $322,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new position in AppLovin in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter valued at approximately $27,000. Riverview Trust Co lifted its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Hemington Wealth Management lifted its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the subject of several research analyst reports. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 target price (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus upped their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Citigroup upped their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Stock Up 2.4 %

Shares of NASDAQ:APP opened at $314.03 on Friday. 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 business has a fifty day moving average of $353.83 and a two-hundred day moving average of $273.98. The stock has a market cap of $106.76 billion, a P/E ratio of 69.17, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the 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 transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last three months. 14.69% of the stock is owned by corporate insiders.

AppLovin Company 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.