Achmea Investment Management B.V. Sells 48,297 Shares of AppLovin Co. (NASDAQ:APP)

Achmea Investment Management B.V. cut its position in AppLovin Co. (NASDAQ:APP) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,816 shares of the company’s stock after selling 48,297 shares during the quarter. Achmea Investment Management B.V.’s holdings in AppLovin were worth $18,723,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Townsquare Capital LLC increased its stake in shares of AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after buying an additional 3,126 shares during the period. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $224,000. State Street Corp increased its stake in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares during the period. Eagle Asset Management Inc. increased its stake in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after buying an additional 500,407 shares during the period. Finally, Zacks Investment Management increased its stake in shares of AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying an additional 81,331 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on APP shares. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Citigroup raised their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 322,871 shares of company stock worth $111,401,882 over the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Up 5.8 %

APP stock opened at $272.59 on Thursday. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock’s 50 day moving average is $359.55 and its 200-day moving average is $265.25. The firm has a market capitalization of $92.67 billion, a PE ratio of 60.04, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts expect that AppLovin Co. will post 6.87 EPS 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.