AppLovin Co. (NASDAQ:APP) Shares Sold by Choreo LLC

Choreo LLC cut its stake in AppLovin Co. (NASDAQ:APP) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,643 shares of the company’s stock after selling 849 shares during the period. Choreo LLC’s holdings in AppLovin were worth $1,551,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in AppLovin in the third quarter worth $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the third quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin in the third quarter worth $29,000. Finally, Fifth Third Bancorp increased its position in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Down 1.3 %

APP stock opened at $375.72 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $126.09 billion, a PE ratio of 113.85, a P/E/G ratio of 3.00 and a beta of 2.30. AppLovin Co. has a 12 month low of $45.12 and a 12 month high of $417.64. The firm has a 50 day simple moving average of $346.12 and a 200 day simple moving average of $217.34.

AppLovin (NASDAQ:APP) last issued 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 business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. Equities research analysts forecast that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on APP shares. JPMorgan Chase & Co. increased their target price on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Oppenheimer reissued an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Citigroup increased their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Four investment analysts have rated the stock with 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

AppLovin 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.