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AppLovin Co. (NASDAQ:APP) Shares Sold by BI Asset Management Fondsmaeglerselskab AS

AppLovin Co. (NASDAQ:APP) Shares Sold by BI Asset Management Fondsmaeglerselskab AS


BI Asset Management Fondsmaeglerselskab AS reduced its holdings in AppLovin Co. (NASDAQ:APP – Free Report) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,439 shares of the company’s stock after selling 8,885 shares during the quarter. BI Asset Management Fondsmaeglerselskab AS’s holdings in AppLovin were worth $2,245,000, according to its most recent filing with the SEC.

Several other hedge funds and other institutional investors also made changes to their positions in APP. FinTrust Capital Advisors LLC acquired a new stake in shares of AppLovin during the fourth quarter worth approximately $32,000. Atlas Capital Advisors LLC acquired a new stake in AppLovin during the first quarter worth approximately $38,000. Quarry LP acquired a new position in AppLovin during the fourth quarter worth approximately $44,000. GAMMA Investing LLC purchased a new stake in shares of AppLovin during the fourth quarter worth approximately $47,000. Finally, Lindbrook Capital LLC increased its stake in shares of AppLovin by 26.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth approximately $53,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider activity

In related news, major shareholder Kkr Group Partnership LP sold 17,500,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the completion of the transaction, the insider now owns 366,567 shares of the company’s stock, valued at $30,557,025.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via the SEC website. In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, available at this link. Also, major shareholder Kkr Group Partnership LP sold 17,500,000 shares of the company in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the transaction, the insider now directly owns 366,567 shares in the company, valued at $30,557,025.12. The disclosure for this sale can be found here. Insiders have sold a total of 17,857,726 shares of the company’s stock over the past 90 days, valued at $1,489,251,374. 14.69% of the shares are currently held by insiders.

AppLovin shares down 0.4%

Shares of NASDAQ APP opened at $84.36 on Thursday. The company has a market cap of $27.76 billion, a price-to-earnings ratio of 50.21, a price-to-earnings growth ratio of 1.44 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. AppLovin Co. has a one-year low of $26.92 and a one-year high of $91.91. The company’s 50-day moving average price is $81.51 and its 200-day moving average price is $65.58.

AppLovin (NASDAQ:APP – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $973.70 million. During the same quarter a year ago, the company earned ($0.01) in earnings per share. The company’s revenue for the quarter increased 47.9% year over year. As a group, sell-side analysts expect AppLovin Co. to post $2.96 EPS for the current year.

Changes in analyst ratings

Several research firms have issued reports on APP. Goldman Sachs Group increased their price target on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Stifel Nicolaus increased their price target on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC re-imposed a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Jefferies Financial Group increased their price target on shares of AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Morgan Stanley increased their price target on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

Read our latest stock analysis on AppLovin

Company Profile AppLovin

(Free Report)

AppLovin Corporation is engaged in building a software-based platform for advertisers to improve the marketing and monetization of their content in the United States and internationally. The company operates through two segments, Software Platform and Apps. The company’s software solutions include AppDiscovery, a marketing software solution that 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 that 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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Want to know which other hedge funds have APP in their portfolio? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for AppLovin Co. (NASDAQ:APP – Free Report).

Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)



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