AppLovin Co. (NASDAQ:APP) Holdings Cut by EPIQ Capital Group LLC

EPIQ Capital Group LLC lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 8.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 39,564 shares of the company’s stock after selling 3,718 shares during the period. AppLovin accounts for 3.3% of EPIQ Capital Group LLC’s holdings, making the stock its 10th biggest position. EPIQ Capital Group LLC’s holdings in AppLovin were worth $12,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the third quarter valued at approximately $27,000. Riverview Trust Co boosted its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Finally, Hemington Wealth Management increased its position in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $270.48 on Monday. AppLovin Co. has a 52-week low of $59.30 and a 52-week high of $525.15. 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 stock has a market cap of $90.77 billion, a PE ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The business has a 50-day simple moving average of $363.84 and a 200-day simple moving average of $262.97.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on APP shares. Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Jefferies Financial Group upped 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. Citigroup lifted their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler upped their price target on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 406,047 shares of company stock worth $140,390,817 in the last three months. Company insiders own 14.69% of the company’s stock.

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.