Cumberland Partners Ltd Sells 3,000 Shares of AppLovin Co. (NASDAQ:APP)

Cumberland Partners Ltd lessened its position in AppLovin Co. (NASDAQ:APP) by 13.6% in the 3rd quarter, Holdings Channel reports. The firm owned 19,000 shares of the company’s stock after selling 3,000 shares during the period. Cumberland Partners Ltd’s holdings in AppLovin were worth $2,480,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of APP. Janney Montgomery Scott LLC increased its stake in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares in the last quarter. Empowered Funds LLC bought a new stake in AppLovin in the first quarter valued at approximately $1,235,000. SG Americas Securities LLC increased its stake in AppLovin by 33.5% in the first quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock valued at $284,000 after purchasing an additional 1,028 shares in the last quarter. Forsta AP Fonden bought a new stake in AppLovin in the first quarter valued at approximately $3,364,000. Finally, Swiss National Bank increased its stake in AppLovin by 89.3% in the first quarter. Swiss National Bank now owns 536,790 shares of the company’s stock valued at $37,157,000 after purchasing an additional 253,200 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on APP shares. Bank of America upped their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Wedbush reiterated an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Jefferies Financial Group upped their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Oppenheimer upped their price target on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Macquarie upped their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.31.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CMO Katie Kihorany Jansen sold 72,306 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $83.71, for a total value of $6,052,735.26. Following the transaction, the chief marketing officer now directly owns 1,092,090 shares of the company’s stock, valued at $91,418,853.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,172 shares of company stock valued at $40,723,512. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Down 2.0 %

APP traded down $5.83 during trading hours on Tuesday, hitting $280.60. 1,271,079 shares of the company’s stock were exchanged, compared to its average volume of 4,274,403. The company has a quick ratio of 2.28, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock’s 50-day moving average is $143.14 and its two-hundred day moving average is $103.05. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $292.86. The stock has a market cap of $93.79 billion, a price-to-earnings ratio of 86.80, a PEG ratio of 4.18 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. Sell-side analysts predict that AppLovin Co. will post 3.98 earnings per share for the current fiscal year.

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.