AlphaCentric Advisors LLC Lowers Holdings in AppLovin Co. (NASDAQ:APP)

AlphaCentric Advisors LLC reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 833 shares of the company’s stock after selling 146 shares during the period. AlphaCentric Advisors LLC’s holdings in AppLovin were worth $270,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. FMR LLC raised its stake in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. Baillie Gifford & Co. increased its holdings in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of AppLovin in the 4th quarter worth $414,462,000. WCM Investment Management LLC boosted its holdings in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after acquiring an additional 560,560 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

AppLovin stock opened at $510.13 on Monday. AppLovin Co. has a 52 week low of $52.75 and a 52 week high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $171.19 billion, a P/E ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. The stock has a 50 day moving average of $351.33 and a 200-day moving average of $231.50.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. On average, analysts expect that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 828,991 shares of company stock worth $267,640,144. 14.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on APP shares. BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $422.18.

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.