AppLovin Co. (NASDAQ:APP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 41.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 119,292 shares of the company’s stock after selling 84,013 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AppLovin were worth $40,471,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC grew its position in shares of AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. Second Half Financial Partners LLC acquired a new position in shares of AppLovin during the 3rd quarter valued at about $224,000. State Street Corp lifted its holdings in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. boosted its position in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management grew its holdings in AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on APP shares. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. BTIG Research lifted their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Wedbush reissued an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Four investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $422.18.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director now directly owns 2,987 shares in the company, valued at approximately $952,673.78. This represents a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock valued at $267,640,144 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Up 8.2 %

Shares of AppLovin stock opened at $510.13 on Friday. AppLovin Co. has a 1-year low of $52.75 and a 1-year high of $525.15. The company has a market capitalization of $171.19 billion, a PE ratio of 154.59, a P/E/G ratio of 3.10 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business has a 50-day moving average of $351.33 and a 200-day moving average of $229.34.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, equities analysts forecast that AppLovin Co. will post 4.09 EPS for the current fiscal 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.