AppLovin Co. (NASDAQ:APP) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of AppLovin Co. (NASDAQ:APP) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,003 shares of the company’s stock after selling 23,392 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in AppLovin were worth $21,280,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the third quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth $29,000. Finally, Quest Partners LLC acquired a new position in AppLovin during the second quarter valued at $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Bank of America boosted their price target on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday. Benchmark reaffirmed a “sell” rating and issued a $66.00 price target on shares of AppLovin in a research note on Thursday, November 7th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $249.34.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the transaction, the chief financial officer now directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 854,065 shares of company stock valued at $233,072,408. 14.69% of the stock is owned by company insiders.

AppLovin Stock Down 4.1 %

AppLovin stock opened at $319.59 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $344.77. The firm has a fifty day moving average price of $185.37 and a two-hundred day moving average price of $119.37. The firm has a market cap of $107.25 billion, a price-to-earnings ratio of 96.85, a P/E/G ratio of 4.11 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. As a group, analysts forecast that AppLovin Co. will post 4.05 earnings per share for the current 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.