Savant Capital LLC Trims Stock Position in AppLovin Co. (NASDAQ:APP)

Savant Capital LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 38.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,534 shares of the company’s stock after selling 11,964 shares during the quarter. Savant Capital LLC’s holdings in AppLovin were worth $6,326,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its position in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. Jennison Associates LLC purchased a new stake in AppLovin in the 4th quarter valued at $414,462,000. WCM Investment Management LLC raised its position in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Janus Henderson Group PLC raised its position in AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after purchasing an additional 560,560 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on APP shares. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Oppenheimer restated an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group upped their price objective on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler started coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Four 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. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

AppLovin Price Performance

Shares of NASDAQ APP opened at $384.40 on Tuesday. The stock has a market cap of $129.00 billion, a price-to-earnings ratio of 116.49, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 52 week low of $45.12 and a 52 week high of $417.64. The company’s 50-day moving average price is $347.00 and its 200 day moving average price is $221.43. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

Insider Activity at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the transaction, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 828,991 shares of company stock valued at $267,640,144. Insiders own 14.69% of the company’s stock.

AppLovin 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.