AppLovin Co. (NASDAQ:APP) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,660 shares of the company’s stock after selling 460 shares during the period. Cerity Partners LLC’s holdings in AppLovin were worth $5,719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in shares of AppLovin by 146.6% in the third quarter. Quantinno Capital Management LP now owns 6,412 shares of the company’s stock valued at $837,000 after acquiring an additional 3,812 shares in the last quarter. National Bank of Canada FI increased its stake in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares in the last quarter. Barclays PLC increased its position in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after buying an additional 153,248 shares in the last quarter. Vestcor Inc raised its stake in AppLovin by 32.9% in the 3rd quarter. Vestcor Inc now owns 3,925 shares of the company’s stock valued at $512,000 after purchasing an additional 972 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of AppLovin by 11.6% in the third quarter. Coldstream Capital Management Inc. now owns 4,428 shares of the company’s stock valued at $578,000 after buying an additional 462 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on APP. Morgan Stanley upgraded AppLovin from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $470.00 to $350.00 in a research note on Thursday. Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Piper Sandler decreased their price target on AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $560.00 price objective on shares of AppLovin in a research report on Thursday, March 27th. Finally, Loop Capital reiterated a “buy” rating and set a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $424.84.

AppLovin Stock Performance

Shares of APP opened at $249.95 on Friday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. 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 market cap of $84.97 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm has a fifty day moving average of $327.20 and a 200-day moving average of $293.41.

AppLovin (NASDAQ:APP) last issued 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 188.55% and a net margin of 33.54%. As a group, equities analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated 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 owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by company insiders.

AppLovin 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.