Virtu Financial LLC Lowers Holdings in AppLovin Co. (NASDAQ:APP)

Virtu Financial LLC reduced its position in AppLovin Co. (NASDAQ:APP) by 86.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,379 shares of the company’s stock after selling 21,216 shares during the period. Virtu Financial LLC’s holdings in AppLovin were worth $1,094,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC lifted its position in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after buying an additional 29 shares in the last quarter. Truvestments Capital LLC increased its stake in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after acquiring an additional 38 shares during the last quarter. National Bank of Canada FI increased its stake in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the last quarter. Hemington Wealth Management increased its stake in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after acquiring an additional 53 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last quarter. Insiders own 14.69% of the company’s stock.

AppLovin Stock Up 2.4 %

Shares of NASDAQ:APP opened at $314.03 on Monday. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The stock has a market cap of $106.76 billion, a P/E ratio of 69.17, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The business’s 50 day moving average is $353.83 and its 200 day moving average is $276.60. 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 (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

APP has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Loop Capital boosted their price objective on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group upped their target price on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to 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.