AppLovin Co. (NASDAQ:APP) Shares Sold by California First Leasing Corp

California First Leasing Corp lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,937 shares of the company’s stock after selling 2,200 shares during the quarter. AppLovin accounts for approximately 4.3% of California First Leasing Corp’s portfolio, making the stock its 6th biggest holding. California First Leasing Corp’s holdings in AppLovin were worth $10,342,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Townsquare Capital LLC grew its position in shares of AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after buying an additional 3,126 shares during the period. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $224,000. State Street Corp lifted its holdings in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management lifted its holdings in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after purchasing an additional 81,331 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Up 1.6 %

Shares of AppLovin stock opened at $325.78 on Friday. AppLovin Co. has a 1 year low of $57.40 and a 1 year high of $525.15. The firm has a market cap of $109.33 billion, a PE ratio of 71.76, a P/E/G ratio of 3.02 and a beta of 2.30. The stock has a fifty day moving average price of $367.79 and a 200-day moving average price of $252.97. 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 (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on APP. The Goldman Sachs Group increased 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. Oppenheimer reiterated an “outperform” rating and issued a $560.00 target price (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Macquarie increased their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Jefferies Financial Group increased their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Piper Sandler raised their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Four 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

Insider Buying and Selling

In related news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, 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. In the last 90 days, insiders sold 224,872 shares of company stock valued at $82,158,554. 14.69% of the stock is owned by insiders.

About AppLovin

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.