AppLovin Co. (NASDAQ:APP) Position Trimmed by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 27.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,307 shares of the company’s stock after selling 146,256 shares during the quarter. Sei Investments Co. owned approximately 0.12% of AppLovin worth $126,393,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new position in AppLovin during the fourth quarter valued at approximately $25,000. Riverview Trust Co boosted its position in shares of 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 during the period. Hemington Wealth Management lifted its position in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Fifth Third Bancorp lifted its position in AppLovin by 172.2% in 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. Finally, Smithfield Trust Co bought a new position in AppLovin in the fourth quarter worth $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $314.03 on Friday. The business has a fifty day moving average of $353.83 and a 200-day moving average of $275.28. 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 firm has a market cap of $106.76 billion, a PE ratio of 69.17, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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 research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last three months. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APP. JPMorgan Chase & Co. raised their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler raised their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Loop Capital lifted their price objective on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Bank of America lifted their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup lifted their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have given 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, the stock has an average rating of “Moderate Buy” and an average target price of $438.28.

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.