Nomura Asset Management Co. Ltd. Sells 20,106 Shares of AppLovin Co. (NASDAQ:APP)

Nomura Asset Management Co. Ltd. reduced its holdings in shares of AppLovin Co. (NASDAQ:APP) by 23.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,369 shares of the company’s stock after selling 20,106 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in AppLovin were worth $21,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. X Square Capital LLC increased its position in shares of AppLovin by 2.5% in the fourth quarter. X Square Capital LLC now owns 3,999 shares of the company’s stock valued at $1,295,000 after acquiring an additional 99 shares during the last quarter. Norges Bank acquired a new position in AppLovin during the fourth quarter valued at approximately $828,138,000. AssuredPartners Investment Advisors LLC bought a new position in AppLovin in the fourth quarter valued at approximately $1,042,000. NEOS Investment Management LLC acquired a new position in shares of AppLovin during the 4th quarter worth approximately $6,262,000. Finally, Sava Infond d.o.o. acquired a new position in shares of AppLovin during the 4th quarter worth approximately $130,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’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 transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 4.1 %

Shares of AppLovin stock opened at $272.38 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a 50-day moving average of $351.86 and a 200-day moving average of $283.07. 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 $92.60 billion, a PE ratio of 60.00, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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, sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of several analyst reports. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. FBN Securities initiated coverage on AppLovin in a report on Friday. They set an “outperform” rating and a $385.00 price target for the company. Finally, Bank of America upped their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $435.47.

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.