FDx Advisors Inc. Sells 1,695 Shares of AppLovin Co. (NASDAQ:APP)

by · The Cerbat Gem

FDx Advisors Inc. trimmed its position in shares of AppLovin Co. (NASDAQ:APP – Free Report) by 35.8% in the fourth quarter, Holdings Channel reports. The fund owned 3,045 shares of the company’s stock after selling 1,695 shares during the quarter. FDx Advisors Inc.’s holdings in AppLovin were worth $986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of APP. WCM Investment Management LLC lifted its stake in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. FMR LLC lifted its stake in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the period. State Street Corp lifted 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. Baillie Gifford & Co. lifted its stake in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after buying an additional 4,010,520 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after buying an additional 449,241 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $450.01 on Friday. The firm has a market cap of $151.02 billion, a price-to-earnings ratio of 99.12, a PEG ratio of 3.61 and a beta of 2.30. The company has a 50 day moving average of $363.77 and a 200-day moving average of $240.83. 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 1-year low of $54.50 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APP. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Loop Capital increased their target price on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday. BTIG Research increased their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup increased their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday. Four equities research 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. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $442.18.

Read Our Latest Stock Analysis on APP

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the firm’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 transaction of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,302 shares of company stock valued at $65,305,354. Corporate insiders own 14.69% of the company’s stock.

AppLovin Profile

(Free Report)

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.

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