Wright Investors Service Inc. Sells 3,190 Shares of AppLovin Co. (NASDAQ:APP)

Wright Investors Service Inc. reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 39.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,820 shares of the company’s stock after selling 3,190 shares during the quarter. Wright Investors Service Inc.’s holdings in AppLovin were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the third quarter worth about $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin during the third quarter valued at about $27,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth about $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin during the second quarter worth about $33,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

Shares of APP opened at $315.68 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a fifty-two week low of $39.43 and a fifty-two week high of $417.64. The firm has a 50-day simple moving average of $321.54 and a 200-day simple moving average of $182.80. The company has a market capitalization of $105.94 billion, a price-to-earnings ratio of 95.66, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29.

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 analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % 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, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 in the last quarter. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on APP shares. Macquarie raised their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday. BTIG Research raised their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Citigroup upped their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.06.

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.