Seascape Capital Management Sells 3,274 Shares of AppLovin Co. (NASDAQ:APP)

Seascape Capital Management decreased its holdings in AppLovin Co. (NASDAQ:APP) by 11.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,244 shares of the company’s stock after selling 3,274 shares during the quarter. AppLovin comprises about 3.0% of Seascape Capital Management’s portfolio, making the stock its 5th biggest position. Seascape Capital Management’s holdings in AppLovin were worth $8,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APP. Nations Financial Group Inc. IA ADV acquired a new position in AppLovin during the 4th quarter valued at approximately $2,202,000. Rhumbline Advisers increased its position in shares of AppLovin by 5.9% in the 4th quarter. Rhumbline Advisers now owns 440,489 shares of the company’s stock valued at $142,643,000 after acquiring an additional 24,451 shares during the period. AustralianSuper Pty Ltd raised its stake in AppLovin by 2,604.9% in the 4th quarter. AustralianSuper Pty Ltd now owns 180,420 shares of the company’s stock worth $58,425,000 after acquiring an additional 173,750 shares during the last quarter. Vicus Capital acquired a new stake in AppLovin during the 4th quarter worth about $349,000. Finally, Bogart Wealth LLC purchased a new stake in AppLovin during the 4th quarter valued at about $37,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares in the company, 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. Insiders sold 828,991 shares of company stock valued at $267,640,144 over the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APP. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group boosted their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $560.00 price target (up from $480.00) on shares of AppLovin in a report on Thursday. Piper Sandler raised their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $422.18.

AppLovin Trading Up 8.2 %

APP stock opened at $510.13 on Friday. AppLovin Co. has a 12-month low of $52.75 and a 12-month high of $525.15. The business’s 50-day moving average is $351.33 and its 200 day moving average is $230.42. 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 price-to-earnings ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30.

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

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.