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

Eagle Asset Management Inc. decreased its position in AppLovin Co. (NASDAQ:APPFree Report) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,344 shares of the company’s stock after selling 5,183 shares during the quarter. Eagle Asset Management Inc.’s holdings in AppLovin were worth $1,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its position in AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after purchasing an additional 401 shares during the period. Contrarius Investment Management Ltd purchased a new stake in shares of AppLovin during the fourth quarter worth $7,334,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of AppLovin in the fourth quarter valued at $2,284,000. Ameriprise Financial Inc. raised its stake in shares of AppLovin by 4,805.9% in the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after acquiring an additional 1,374,066 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after acquiring an additional 1,411,453 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CMO Katie Kihorany Jansen sold 12,755 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $79.01, for a total transaction of $1,007,772.55. Following the transaction, the chief marketing officer now owns 1,236,703 shares of the company’s stock, valued at $97,711,904.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the sale, the insider now owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Katie Kihorany Jansen sold 12,755 shares of AppLovin stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $79.01, for a total value of $1,007,772.55. Following the completion of the sale, the chief marketing officer now directly owns 1,236,703 shares in the company, valued at approximately $97,711,904.03. The disclosure for this sale can be found here. Insiders have sold a total of 17,722,024 shares of company stock valued at $1,476,624,224 over the last quarter. 14.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley increased their price objective on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Stifel Nicolaus increased their price objective on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. The Goldman Sachs Group raised their price target on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Oppenheimer raised their price target on AppLovin from $85.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

Check Out Our Latest Stock Analysis on APP

AppLovin Stock Performance

Shares of APP stock opened at $83.67 on Thursday. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. AppLovin Co. has a 1 year low of $21.03 and a 1 year high of $88.50. The stock’s 50-day moving average is $76.71 and its two-hundred day moving average is $58.15. The firm has a market cap of $27.53 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 1.40 and a beta of 1.88.

AppLovin (NASDAQ:APPGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. During the same quarter last year, the company posted ($0.01) earnings per share. The business’s revenue was up 47.9% on a year-over-year basis. Analysts predict that AppLovin Co. will post 2.96 earnings per share for the current year.

AppLovin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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