Bay Rivers Group Sells 2,182 Shares of AppLovin Co. (NASDAQ:APP)

Bay Rivers Group reduced its holdings in shares of AppLovin Co. (NASDAQ:APP) by 63.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,240 shares of the company’s stock after selling 2,182 shares during the period. Bay Rivers Group’s holdings in AppLovin were worth $402,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in AppLovin in the 3rd quarter worth $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin during the third quarter valued at about $27,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at about $29,000. Finally, Fifth Third Bancorp lifted its stake 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 acquiring an additional 62 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Down 5.5 %

NASDAQ APP opened at $343.02 on Tuesday. The firm has a market capitalization of $115.11 billion, a PE ratio of 103.95, a P/E/G ratio of 2.96 and a beta of 2.29. The stock’s 50 day moving average is $338.31 and its 200 day moving average is $201.05. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. Research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. Loop Capital raised their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Stifel Nicolaus raised their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. BTIG Research increased their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $366.29.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

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.