American Trust Lowers Stock Holdings in AppLovin Co. (NASDAQ:APP)

American Trust cut its stake in shares of AppLovin Co. (NASDAQ:APP) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,820 shares of the company’s stock after selling 2,210 shares during the quarter. American Trust’s holdings in AppLovin were worth $760,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its position in AppLovin by 101.7% during the 2nd quarter. SG Americas Securities LLC now owns 8,268 shares of the company’s stock valued at $688,000 after purchasing an additional 4,168 shares during the period. Diversified Trust Co raised its stake in AppLovin by 20.8% in the second quarter. Diversified Trust Co now owns 4,059 shares of the company’s stock worth $338,000 after buying an additional 700 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new stake in AppLovin during the second quarter worth $231,000. Envestnet Portfolio Solutions Inc. bought a new stake in AppLovin during the 2nd quarter valued at $3,291,000. Finally, Swedbank AB increased its holdings in shares of AppLovin by 515.8% in the 2nd quarter. Swedbank AB now owns 77,355 shares of the company’s stock valued at $6,437,000 after acquiring an additional 64,793 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 872,896 shares of company stock valued at $279,773,021 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Oppenheimer restated an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a report on Tuesday. Benchmark reiterated a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Loop Capital raised their target price on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Piper Sandler began coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $326.21 on Friday. The company has a 50 day simple moving average of $242.30 and a two-hundred day simple moving average of $142.69. The stock has a market cap of $109.47 billion, a price-to-earnings ratio of 98.85, a PEG ratio of 4.17 and a beta of 2.28. 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 Co. has a 12 month low of $36.33 and a 12 month high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. As a group, analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

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.