Massachusetts Financial Services Co. MA Has $24.45 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Massachusetts Financial Services Co. MA cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 53.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 75,503 shares of the company’s stock after selling 87,500 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in AppLovin were worth $24,450,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co lifted its stake in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in shares of AppLovin in the 4th quarter worth $28,000. Hemington Wealth Management boosted its position 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 purchasing an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction 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 sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 in the last quarter. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Loop Capital reissued a “buy” rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Citigroup boosted their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Trading Down 16.3 %

NASDAQ APP opened at $219.37 on Monday. The stock has a market capitalization of $74.58 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The stock’s 50 day moving average price is $342.89 and its two-hundred day moving average price is $289.58. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

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.