Sei Investments Co. Sells 146,256 Shares of AppLovin Co. (NASDAQ:APP)

Sei Investments Co. lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 27.3% during the 4th quarter, HoldingsChannel reports. The firm owned 390,307 shares of the company’s stock after selling 146,256 shares during the period. Sei Investments Co.’s holdings in AppLovin were worth $126,393,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Oxford Financial Group LTD. LLC bought a new position in shares of AppLovin during the 4th quarter valued at about $1,176,000. TD Private Client Wealth LLC lifted its holdings in shares of AppLovin by 244.9% during the 4th quarter. TD Private Client Wealth LLC now owns 1,052 shares of the company’s stock valued at $341,000 after purchasing an additional 747 shares in the last quarter. Independent Solutions Wealth Management LLC bought a new position in shares of AppLovin during the 4th quarter valued at about $3,936,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of AppLovin during the 4th quarter valued at about $41,000. Finally, Berkshire Capital Holdings Inc. lifted its stake in AppLovin by 355,800.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 35,590 shares of the company’s stock valued at $11,525,000 after acquiring an additional 35,580 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 2.4 %

APP stock opened at $314.03 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $106.76 billion, a PE ratio of 69.17, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The business’s 50 day simple moving average is $353.83 and its 200 day simple moving average is $275.28.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s 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 directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group boosted their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Oppenheimer restated an “outperform” rating and issued a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $438.28.

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.