Aviva PLC Trims Stake in AppLovin Co. (NYSE:APP)

Aviva PLC cut its holdings in shares of AppLovin Co. (NYSE:APP – Get Rating) by 71.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,209 shares of the company’s stock after selling 74,437 shares during the quarter. Aviva PLC’s holdings in AppLovin were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pearl River Capital LLC acquired a new stake in shares of AppLovin during the third quarter valued at about $380,000. US Bancorp DE raised its position in AppLovin by 197.4% in the third quarter. US Bancorp DE now owns 4,660 shares of the company’s stock valued at $91,000 after purchasing an additional 3,093 shares during the period. Ieq Capital LLC acquired a new position in AppLovin during the fourth quarter worth $276,000. Tiger Global Management LLC purchased a new position in shares of AppLovin during the third quarter worth $96,920,000. Finally, Philadelphia Trust Co. acquired a new stake in shares of AppLovin in the fourth quarter valued at $527,000. 38.19% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 0.2 %

NYSE:APP opened at $25.12 on Monday. The company has a market capitalization of $9.16 billion, a PE ratio of -114.18, a P/E/G ratio of 3.61 and a beta of 1.94. AppLovin Co. has a 52-week low of $9.14 and a 52-week high of $44.76. The stock’s 50 day moving average price is $16.67 and its 200 day moving average price is $14.08. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 1.68.

AppLovin (NYSE:APP – Get Rating) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06). The business had revenue of $715.41 million for the quarter, compared to analysts’ expectations of $693.58 million. AppLovin had a negative return on equity of 0.15% and a negative net margin of 2.82%. On average, research analysts anticipate that AppLovin Co. will post 0.35 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, major shareholder Denali Holdings L.P. Kkr sold 15,952,381 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $21.00, for a total transaction of $335,000,001.00. Following the completion of the sale, the insider now directly owns 44,782,619 shares of the company’s stock, valued at approximately $940,434,999. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppLovin news, major shareholder Denali Holdings L.P. Kkr sold 15,952,381 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.00, for a total transaction of $335,000,001.00. Following the completion of the transaction, the insider now owns 44,782,619 shares in the company, valued at approximately $940,434,999. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 65,167 shares of AppLovin stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $13.41, for a total transaction of $873,889.47. Following the completion of the sale, the insider now directly owns 848,054 shares in the company, valued at approximately $11,372,404.14. The disclosure for this sale can be found here. Insiders have sold a total of 16,132,703 shares of company stock valued at $337,867,226 over the last quarter. 12.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APP shares. UBS Group cut AppLovin from a “buy” rating to a “neutral” rating and lowered their target price for the company from $59.00 to $16.00 in a report on Thursday, February 23rd. Benchmark increased their target price on shares of AppLovin from $9.00 to $14.00 in a report on Thursday, May 11th. Oppenheimer boosted their price target on shares of AppLovin from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. KeyCorp reduced their price objective on AppLovin from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, February 6th. Finally, DA Davidson boosted their target price on AppLovin from $28.00 to $32.00 in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.94.

AppLovin Company Profile

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AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.