Tocqueville Asset Management L.P. Sells 298 Shares of AppLovin Co. (NASDAQ:APP)

Tocqueville Asset Management L.P. cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 9.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,751 shares of the company’s stock after selling 298 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in AppLovin were worth $891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. Atria Investments Inc acquired a new position in AppLovin in the third quarter valued at about $574,000. OneDigital Investment Advisors LLC bought a new position in AppLovin in the 3rd quarter valued at about $336,000. CIBC Asset Management Inc raised its position in shares of AppLovin by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,777 shares of the company’s stock valued at $1,015,000 after buying an additional 267 shares in the last quarter. Swiss National Bank lifted its holdings in shares of AppLovin by 13.9% during the 3rd quarter. Swiss National Bank now owns 606,290 shares of the company’s stock worth $79,151,000 after acquiring an additional 74,200 shares during the period. Finally, AMG National Trust Bank bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $225,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin 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 completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

APP has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday. UBS Group upped their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group lifted their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Stock Performance

NASDAQ:APP opened at $297.03 on Thursday. 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 fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a 50 day simple moving average of $354.37 and a two-hundred day simple moving average of $272.20. The company has a market capitalization of $100.98 billion, a PE ratio of 65.43, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current 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.