EntryPoint Capital LLC Sells 1,870 Shares of AppLovin Co. (NASDAQ:APP)

EntryPoint Capital LLC decreased its position in AppLovin Co. (NASDAQ:APP) by 66.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 928 shares of the company’s stock after selling 1,870 shares during the quarter. EntryPoint Capital LLC’s holdings in AppLovin were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its position in shares of AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Truvestments Capital LLC boosted its holdings in AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after acquiring an additional 38 shares in the last quarter. National Bank of Canada FI grew its stake in shares of AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 20.1 %

NASDAQ:APP opened at $261.70 on Friday. The firm has a market capitalization of $88.97 billion, a price-to-earnings ratio of 57.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business has a fifty day moving average price of $353.26 and a 200-day moving average price of $280.42. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results 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%. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Benchmark raised their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the business’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 over the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

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.