AppLovin Co. (NASDAQ:APP) Shares Sold by Interchange Capital Partners LLC

Interchange Capital Partners LLC cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,298 shares of the company’s stock after selling 54 shares during the period. Interchange Capital Partners LLC’s holdings in AppLovin were worth $1,068,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of APP. Townsquare Capital LLC grew its position in shares of AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. State Street Corp increased its stake in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Zacks Investment Management raised its position in AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the period. Toronto Dominion Bank raised its position in AppLovin by 38.8% in the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock valued at $3,286,000 after purchasing an additional 7,039 shares during the period. Finally, Oxinas Partners Wealth Management LLC acquired a new stake in AppLovin during the 4th quarter worth approximately $1,081,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APP. Piper Sandler lifted their price target on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Stifel Nicolaus upped their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Arete Research set a $200.00 target price on AppLovin in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Price Performance

Shares of AppLovin stock opened at $314.03 on Monday. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a 50-day simple moving average of $353.83 and a two-hundred day simple moving average of $276.60. The stock has a market capitalization of $106.76 billion, a price-to-earnings ratio of 69.17, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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%. Analysts forecast that AppLovin Co. will post 6.87 EPS 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.