US Bancorp DE Sells 10,116 Shares of AppLovin Co. (NASDAQ:APP)

US Bancorp DE decreased its position in AppLovin Co. (NASDAQ:APP) by 18.7% during the 4th quarter, HoldingsChannel reports. The fund owned 43,870 shares of the company’s stock after selling 10,116 shares during the quarter. US Bancorp DE’s holdings in AppLovin were worth $14,206,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new stake in shares of AppLovin during the 4th quarter worth approximately $1,781,922,000. QRG Capital Management Inc. raised its stake in shares of AppLovin by 181.9% during the 4th quarter. QRG Capital Management Inc. now owns 72,959 shares of the company’s stock worth $23,626,000 after purchasing an additional 47,079 shares in the last quarter. Roberts Foundation bought a new stake in shares of AppLovin during the 4th quarter worth approximately $22,325,000. Proficio Capital Partners LLC bought a new stake in shares of AppLovin during the 4th quarter worth approximately $153,524,000. Finally, Kovack Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter worth approximately $342,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $337.34 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s fifty day moving average price is $367.64 and its two-hundred day moving average price is $257.15. AppLovin Co. has a one year low of $59.30 and a one year high of $525.15. The firm has a market cap of $113.21 billion, a price-to-earnings ratio of 74.30, a P/E/G ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,947 shares of company stock valued at $75,810,416. 14.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on APP shares. Benchmark upped their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upped their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Citigroup upped their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

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.