Oppenheimer Asset Management Inc. Sells 7,121 Shares of AppLovin Co. (NASDAQ:APP)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP) by 27.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,230 shares of the company’s stock after selling 7,121 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AppLovin were worth $6,227,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. FMR LLC raised its stake in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Baillie Gifford & Co. raised its holdings in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Jennison Associates LLC acquired a new stake in AppLovin during the 4th quarter worth $414,462,000. WCM Investment Management LLC boosted its holdings in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Finally, Panview Capital Ltd bought a new position in AppLovin during the fourth quarter worth about $214,084,000. 41.85% of the stock is owned by institutional investors.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,872 shares of company stock worth $82,158,554. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock opened at $325.78 on Friday. 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 12 month low of $57.40 and a 12 month high of $525.15. The firm has a market cap of $109.33 billion, a P/E ratio of 71.76, a P/E/G ratio of 3.02 and a beta of 2.30. The company’s 50-day moving average price is $367.79 and its two-hundred day moving average price is $252.97.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on APP. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Loop Capital increased their price objective on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $452.29.

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.