AppLovin Co. (NASDAQ:APP) Position Lowered by Castellan Group

Castellan Group lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 57.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,969 shares of the company’s stock after selling 38,427 shares during the period. AppLovin accounts for approximately 4.1% of Castellan Group’s portfolio, making the stock its biggest position. Castellan Group’s holdings in AppLovin were worth $9,381,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the 4th quarter worth about $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the third quarter worth about $27,000. Finally, Raleigh Capital Management Inc. purchased a new stake in AppLovin during the third quarter worth about $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at $952,673.78. The trade was a 85.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 828,991 shares of company stock worth $267,640,144. 14.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APP. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Loop Capital boosted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Wedbush reiterated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Bank of America upped their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Macquarie upped their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

AppLovin Price Performance

AppLovin stock opened at $380.32 on Thursday. AppLovin Co. has a 12 month low of $45.12 and a 12 month high of $417.64. 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 business has a 50 day simple moving average of $347.30 and a 200-day simple moving average of $224.62. The stock has a market capitalization of $127.63 billion, a PE ratio of 115.25, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. Equities analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

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.