Cumberland Partners Ltd Sells 12,500 Shares of AppLovin Co. (NASDAQ:APP)

Cumberland Partners Ltd lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 65.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,500 shares of the company’s stock after selling 12,500 shares during the period. Cumberland Partners Ltd’s holdings in AppLovin were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. GHP Investment Advisors Inc. bought a new stake in AppLovin during the fourth quarter worth $25,000. Hemington Wealth Management lifted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Fifth Third Bancorp boosted its stake in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. JFS Wealth Advisors LLC grew its position in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Bogart Wealth LLC acquired a new position in AppLovin during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APP shares. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus upped their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Bank of America raised their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group upped their target price on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $430.41.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 30,330 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the sale, the director now directly owns 90,576 shares of the company’s stock, valued at $29,950,765.92. The trade was a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,403 shares of company stock valued at $72,325,024. 14.69% of the stock is owned by company insiders.

AppLovin Stock Performance

Shares of APP stock opened at $494.17 on Thursday. The firm has a 50 day moving average of $361.30 and a 200-day moving average of $239.37. The company has a market cap of $165.84 billion, a price-to-earnings ratio of 108.85, a price-to-earnings-growth ratio of 3.84 and a beta of 2.30. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $54.50 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly 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 net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts forecast that AppLovin Co. will post 6.64 earnings per share for the current year.

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.