UniSuper Management Pty Ltd Sells 1,100 Shares of AppLovin Co. (NASDAQ:APP)

UniSuper Management Pty Ltd trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,000 shares of the company’s stock after selling 1,100 shares during the quarter. UniSuper Management Pty Ltd’s holdings in AppLovin were worth $1,295,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SVB Wealth LLC acquired a new position in AppLovin in the 4th quarter valued at $1,781,922,000. State Street Corp raised its stake in AppLovin by 8.6% in the third 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 in the last quarter. Baillie Gifford & Co. raised its stake in AppLovin by 5,421.4% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its position in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares during the period. Finally, Janus Henderson Group PLC grew its stake in AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after buying an additional 560,560 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APP. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. Oppenheimer restated an “outperform” rating on shares of AppLovin in a research report on Thursday. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Loop Capital reissued a “buy” rating on shares of AppLovin in a report on Friday. Finally, Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $435.47.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $264.97 on Tuesday. The firm has a market cap of $90.08 billion, a PE ratio of 58.36, a price-to-earnings-growth 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. The firm’s fifty day moving average is $350.31 and its 200-day moving average is $285.50. 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 (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

AppLovin 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.