AppLovin Co. (NASDAQ:APP) Position Cut by Comerica Bank

Comerica Bank lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 11.3% in the 4th quarter, Holdings Channel reports. The fund owned 140,835 shares of the company’s stock after selling 17,984 shares during the period. Comerica Bank’s holdings in AppLovin were worth $45,607,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of APP. JFS Wealth Advisors LLC raised its position in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after buying an additional 29 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after buying an additional 31 shares during the period. Quadrant Capital Group LLC lifted its stake in AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after buying an additional 33 shares in the last quarter. Forum Financial Management LP boosted its holdings in shares of AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after buying an additional 33 shares during the period. Finally, Truvestments Capital LLC raised its holdings in shares of AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last 90 days. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Up 1.4 %

Shares of NASDAQ:APP opened at $288.88 on Wednesday. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a market capitalization of $98.21 billion, a PE ratio of 63.63, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a 50 day moving average price of $283.75 and a two-hundred day moving average price of $303.01.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company dropped their target price on AppLovin from $538.00 to $386.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group dropped their price objective on AppLovin from $630.00 to $450.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Benchmark boosted their target price on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their target price on AppLovin from $475.00 to $270.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $415.15.

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.