Graham Capital Management L.P. Sells 4,443 Shares of AppLovin Co. (NASDAQ:APP)

Graham Capital Management L.P. lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,811 shares of the company’s stock after selling 4,443 shares during the quarter. Graham Capital Management L.P.’s holdings in AppLovin were worth $2,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the fourth quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter worth $25,000. Riverview Trust Co boosted its holdings in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC acquired a new position in AppLovin in the 4th quarter valued at $28,000. Finally, Hemington Wealth Management raised its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of AppLovin stock opened at $328.79 on Friday. The stock has a market capitalization of $111.77 billion, a price-to-earnings ratio of 72.42, a P/E/G ratio of 3.02 and a beta of 2.39. The firm’s 50-day moving average price is $275.55 and its two-hundred day moving average price is $311.59. 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 $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. On average, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APP. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a report on Thursday. UBS Group upped their price target on AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday. FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $433.85.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Company 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.