Tidal Investments LLC Sells 5,689 Shares of AppLovin Co. (NASDAQ:APP)

Tidal Investments LLC reduced its stake in AppLovin Co. (NASDAQ:APP) by 21.3% during the 4th quarter, HoldingsChannel reports. The firm owned 21,065 shares of the company’s stock after selling 5,689 shares during the quarter. Tidal Investments LLC’s holdings in AppLovin were worth $6,821,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of APP. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co grew its stake in shares of 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 during the period. Tucker Asset Management LLC bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management grew its position in AppLovin by 78.4% during 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 last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on APP shares. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Piper Sandler increased their price target on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. HSBC set a $436.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley increased their price target on AppLovin from $350.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $433.85.

Insider Activity

In related news, Director Herald Y. Chen sold 400,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the sale, the director now owns 221,209 shares of the company’s stock, valued at approximately $82,867,103.49. This trade represents a 64.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 171,420 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total value of $64,071,653.40. Following the sale, the director now directly owns 221,209 shares in the company, valued at $82,681,287.93. The trade was a 43.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,119,470 shares of company stock valued at $409,752,180 in the last 90 days. 14.69% of the stock is owned by company insiders.

AppLovin Stock Performance

APP stock opened at $370.63 on Tuesday. The business’s fifty day moving average is $287.10 and its 200-day moving average is $320.97. 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 company has a market cap of $125.42 billion, a P/E ratio of 81.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

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