AppLovin Co. (NASDAQ:APP) Shares Sold by Ethic Inc.

Ethic Inc. cut its position in AppLovin Co. (NASDAQ:APP - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,657 shares of the company's stock after selling 1,966 shares during the quarter. Ethic Inc.'s holdings in AppLovin were worth $3,127,000 at the end of the most recent quarter.

• AppLovin: Can Record Profits Overcome Market Skepticism?

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frontier Capital Management Co. LLC acquired a new position in shares of AppLovin during the 4th quarter valued at $117,608,000. Circle Wealth Management LLC boosted its stake in AppLovin by 102.6% during the fourth quarter. Circle Wealth Management LLC now owns 4,592 shares of the company's stock valued at $1,487,000 after buying an additional 2,326 shares in the last quarter. Deutsche Bank AG boosted its stake in AppLovin by 64.4% during the fourth quarter. Deutsche Bank AG now owns 455,496 shares of the company's stock valued at $147,503,000 after buying an additional 178,450 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in AppLovin during the fourth quarter worth about $502,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in AppLovin in the fourth quarter worth about $17,803,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Benchmark restated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a report on Thursday. Bank of America lifted their price target on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Citigroup boosted their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. The Goldman Sachs Group raised their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday. Finally, UBS Group lifted their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen 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 price target of $433.85.

• MarketBeat Week in Review – 03/17 - 03/21

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AppLovin Stock Down 3.2 %

Shares of NASDAQ:APP opened at $328.79 on Friday. 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 Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a market capitalization of $111.77 billion, a PE ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a fifty day moving average of $275.55 and a 200-day moving average of $311.59.

• AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company's stock.

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.

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