Geneva Partners LLC Sells 1,170 Shares of AppLovin Co. (NASDAQ:APP)

Geneva Partners LLC cut its stake in shares of AppLovin Co. (NASDAQ:APP) by 41.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,632 shares of the company’s stock after selling 1,170 shares during the quarter. Geneva Partners LLC’s holdings in AppLovin were worth $529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Truist Financial Corp raised its position in shares of AppLovin by 510.9% during the 2nd quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock worth $2,305,000 after purchasing an additional 23,163 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of AppLovin by 115.3% in the 2nd quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock valued at $2,548,000 after buying an additional 16,397 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of AppLovin in the 2nd quarter valued at $241,000. GAMMA Investing LLC lifted its position in AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after buying an additional 126 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $725,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on APP shares. UBS Group lifted their target price on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Bank of America lifted their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, BTIG Research increased their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $366.29.

Insider Buying and Selling at AppLovin

In related news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now directly owns 2,987 shares of the company’s stock, valued at $952,673.78. This represents a 85.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last ninety days. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $368.27 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $123.59 billion, a P/E ratio of 111.60, a P/E/G ratio of 3.00 and a beta of 2.30. AppLovin Co. has a 52 week low of $45.08 and a 52 week high of $417.64. The business has a fifty day simple moving average of $344.30 and a 200-day simple moving average of $214.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities research analysts forecast that AppLovin Co. will post 4.09 EPS for the current year.

About AppLovin

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.