Virtu Financial LLC Reduces Stake in AppLovin Co. (NASDAQ:APP)

Virtu Financial LLC lowered its holdings in AppLovin Co. (NASDAQ:APP) by 86.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,379 shares of the company’s stock after selling 21,216 shares during the quarter. Virtu Financial LLC’s holdings in AppLovin were worth $1,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of APP. Oxford Financial Group LTD. LLC purchased a new position in shares of AppLovin in the 4th quarter valued at approximately $1,176,000. TD Private Client Wealth LLC lifted its stake in shares of AppLovin by 244.9% in the 4th quarter. TD Private Client Wealth LLC now owns 1,052 shares of the company’s stock valued at $341,000 after purchasing an additional 747 shares during the period. Independent Solutions Wealth Management LLC purchased a new position in shares of AppLovin in the 4th quarter valued at approximately $3,936,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at approximately $41,000. Finally, Berkshire Capital Holdings Inc. lifted its stake in shares of AppLovin by 355,800.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 35,590 shares of the company’s stock valued at $11,525,000 after purchasing an additional 35,580 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on 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 directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APP. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group lifted their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Benchmark lifted their price objective on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Loop Capital lifted their price objective on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Stock Performance

Shares of APP opened at $314.03 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The firm has a market capitalization of $106.76 billion, a P/E ratio of 69.17, a PEG ratio of 3.02 and a beta of 2.33. The business has a fifty day moving average of $353.83 and a 200 day moving average of $276.60.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, sell-side analysts anticipate that AppLovin Co. will post 6.87 EPS 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.