EntryPoint Capital LLC Sells 1,870 Shares of AppLovin Co. (NASDAQ:APP)

EntryPoint Capital LLC lessened its holdings in AppLovin Co. (NASDAQ:APP) by 66.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 928 shares of the company’s stock after selling 1,870 shares during the period. EntryPoint Capital LLC’s holdings in AppLovin were worth $301,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its holdings in shares of AppLovin by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock worth $89,000 after purchasing an additional 322 shares during the period. Great Valley Advisor Group Inc. boosted its stake in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the period. Cerity Partners LLC increased its position in AppLovin by 36.3% during the third quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock valued at $2,366,000 after acquiring an additional 4,822 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of AppLovin by 9,300.0% in the third quarter. Larson Financial Group LLC now owns 470 shares of the company’s stock valued at $61,000 after acquiring an additional 465 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of AppLovin in the third quarter valued at $672,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APP. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. 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. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Piper Sandler upped their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Macquarie lifted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $438.28.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 over the last 90 days. Insiders own 14.69% of the company’s stock.

AppLovin Trading Down 20.1 %

APP opened at $261.70 on Friday. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The stock has a fifty day moving average price of $353.26 and a 200-day moving average price of $280.42. The firm has a market cap of $88.97 billion, a price-to-earnings ratio of 57.64, a PEG ratio of 3.02 and a beta of 2.33. 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 announced its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.