Castellan Group Sells 38,427 Shares of AppLovin Co. (NASDAQ:APP)

Castellan Group lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 57.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 holding. Castellan Group’s holdings in AppLovin were worth $9,381,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter valued at $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the 4th quarter worth about $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the 3rd quarter worth about $27,000. Finally, Raleigh Capital Management Inc. acquired a new stake in AppLovin in the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $380.32 on Thursday. The firm has a market cap of $127.63 billion, a price-to-earnings ratio of 115.25, a PEG ratio of 3.10 and a beta of 2.30. The stock has a 50 day moving average of $347.30 and a 200-day moving average of $224.62. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $45.12 and a 52 week high of $417.64.

AppLovin (NASDAQ:APP) last issued its 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%. As a group, analysts forecast that AppLovin Co. will post 4.09 EPS for the current year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock worth $267,640,144 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. UBS Group lifted their price objective on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Loop Capital lifted their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

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.