AppLovin Co. (NASDAQ:APP) Shares Sold by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP trimmed its position in AppLovin Co. (NASDAQ:APP) by 71.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,166 shares of the company’s stock after selling 8,012 shares during the period. Occudo Quantitative Strategies LP’s holdings in AppLovin were worth $1,025,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in APP. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the fourth quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin in the fourth quarter valued at $25,000. Riverview Trust Co lifted its position in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin during the 4th quarter worth $28,000. Finally, Hemington Wealth Management grew its holdings in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the subject of several analyst reports. UBS Group upped their target price on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, May 8th. FBN Securities assumed coverage on shares of AppLovin in a report on Friday, March 28th. They issued an “outperform” rating and a $385.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. The Goldman Sachs Group boosted their price target on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $433.85.

AppLovin Stock Up 6.4%

Shares of AppLovin stock opened at $370.10 on Wednesday. The firm has a market cap of $125.82 billion, a price-to-earnings ratio of 81.52, a P/E/G ratio of 3.02 and a beta of 2.39. The stock has a 50-day simple moving average of $278.36 and a 200-day simple moving average of $314.35. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. On average, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is currently owned by insiders.

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.