Choreo LLC Has $1.55 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Choreo LLC decreased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 15.5% during the 4th quarter, HoldingsChannel.com reports. 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.

Several other hedge funds also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of AppLovin by 454.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,560 shares of the company’s stock worth $25,330,000 after purchasing an additional 61,933 shares during the last quarter. Jackson Wealth Management LLC acquired a new position in shares of AppLovin during the 4th quarter worth $468,000. Yousif Capital Management LLC increased its stake in shares of AppLovin by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,425 shares of the company’s stock worth $1,109,000 after purchasing an additional 132 shares during the last quarter. Calamos Wealth Management LLC acquired a new position in shares of AppLovin during the 4th quarter worth $325,000. Finally, Optas LLC acquired a new position in AppLovin in the 4th quarter valued at $271,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock valued at $284,773,062. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on APP. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. Benchmark began coverage on shares of AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 target price on the stock. UBS Group raised their target price on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Four analysts have rated the stock with 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $366.29.

AppLovin Price Performance

NASDAQ:APP opened at $375.72 on Friday. The company has a 50-day moving average of $346.12 and a 200-day moving average of $217.34. The company has a market capitalization of $126.09 billion, a price-to-earnings ratio of 113.85, a PEG ratio of 3.00 and a beta of 2.30. AppLovin Co. has a 52 week low of $45.12 and a 52 week high of $417.64. 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 (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company 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 revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. As a group, equities research analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current fiscal 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.