AppLovin Co. (NASDAQ:APP) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 88.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,072 shares of the company’s stock after selling 22,894 shares during the quarter. SG Americas Securities LLC’s holdings in AppLovin were worth $122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC grew its position in AppLovin by 16.5% during the third quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $98,000 after buying an additional 348 shares during the period. Blair William & Co. IL lifted its holdings in shares of AppLovin by 5.4% in the first quarter. Blair William & Co. IL now owns 7,552 shares of the company’s stock valued at $416,000 after purchasing an additional 386 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of AppLovin by 86.1% in the third quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock valued at $37,000 after purchasing an additional 429 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AppLovin by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock valued at $54,000 after purchasing an additional 488 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of AppLovin by 2.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,642 shares of the company’s stock valued at $905,000 after purchasing an additional 641 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now directly owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The disclosure for this sale can be found here. Insiders have sold a total of 61,215 shares of company stock valued at $4,416,815 over the last quarter. Company insiders own 12.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on APP shares. Daiwa Capital Markets started coverage on shares of AppLovin in a report on Monday. They issued a “neutral” rating and a $80.00 price target on the stock. Morgan Stanley upped their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Oppenheimer upped their price objective on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, UBS Group upped their price objective on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $59.31.

AppLovin Stock Performance

NASDAQ:APP opened at $68.86 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The company has a market cap of $23.55 billion, a P/E ratio of 68.86, a P/E/G ratio of 1.46 and a beta of 1.90. AppLovin Co. has a fifty-two week low of $15.41 and a fifty-two week high of $79.55. The firm’s 50 day moving average is $64.85 and its two-hundred day moving average is $48.74.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. AppLovin’s revenue was up 35.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. Analysts expect that AppLovin Co. will post 2.47 EPS for the current year.

AppLovin 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.