Natixis Advisors LLC Sells 50,675 Shares of AppLovin Co. (NASDAQ:APP)

Natixis Advisors LLC lessened its holdings in AppLovin Co. (NASDAQ:APP) by 22.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 173,181 shares of the company’s stock after selling 50,675 shares during the period. Natixis Advisors LLC’s holdings in AppLovin were worth $56,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APP. FMR LLC grew its position in 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. SVB Wealth LLC bought a new position in AppLovin in the fourth quarter valued at about $1,781,922,000. Baillie Gifford & Co. grew its position in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares during the last quarter. Raymond James Financial Inc. bought a new position in AppLovin in the fourth quarter valued at about $535,070,000. Finally, Jennison Associates LLC bought a new position in AppLovin in the fourth quarter valued at about $414,462,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on 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 transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 322,871 shares of company stock valued at $111,401,882 in the last ninety days. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Up 7.7 %

NASDAQ APP opened at $292.89 on Friday. The firm has a market capitalization of $99.57 billion, a P/E ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33. The business has a fifty day simple moving average of $357.00 and a 200 day simple moving average of $267.94. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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 predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Arete Research set a $200.00 price target on AppLovin in a report on Wednesday, March 5th. Citigroup boosted their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Benchmark boosted their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group lifted their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Company 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.