AppLovin Co. (NASDAQ:APP) Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 62.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,690 shares of the company’s stock after selling 36,610 shares during the period. Bridgeway Capital Management LLC’s holdings in AppLovin were worth $7,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the fourth quarter worth $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the 4th quarter worth about $25,000. Riverview Trust Co raised its position in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin in the 4th quarter valued at about $28,000. Finally, Hemington Wealth Management grew its position in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock valued at $106,401,841. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday, April 21st. Bank of America lifted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. HSBC set a $436.00 price target on AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley raised AppLovin from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $470.00 to $350.00 in a research report on Thursday, April 10th. Finally, Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $415.15.

AppLovin Price Performance

APP stock opened at $304.62 on Wednesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s 50 day moving average price is $275.92 and its 200 day moving average price is $308.15. The firm has a market cap of $103.56 billion, a P/E ratio of 67.10, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS 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%. On average, sell-side analysts expect that AppLovin Co. will post 6.87 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.