AppLovin Co. (NASDAQ:APP) Shares Sold by Augustine Asset Management Inc.

Augustine Asset Management Inc. lessened its holdings in AppLovin Co. (NASDAQ:APP) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,022 shares of the company’s stock after selling 43,282 shares during the period. AppLovin comprises about 25.7% of Augustine Asset Management Inc.’s portfolio, making the stock its largest holding. Augustine Asset Management Inc. owned 0.09% of AppLovin worth $97,804,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in shares of AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth approximately $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 828,991 shares of company stock worth $267,640,144. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup boosted their price objective on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Stifel Nicolaus raised 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. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Stock Down 2.4 %

NASDAQ:APP opened at $375.25 on Wednesday. AppLovin Co. has a 52 week low of $45.12 and a 52 week high of $417.64. The stock’s fifty day moving average is $347.17 and its two-hundred day moving average is $223.52. The stock has a market capitalization of $125.93 billion, a price-to-earnings ratio of 113.71, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. 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 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.