Bay Rivers Group Has $402,000 Holdings in AppLovin Co. (NASDAQ:APP)

Bay Rivers Group trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 63.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,240 shares of the company’s stock after selling 2,182 shares during the quarter. Bay Rivers Group’s holdings in AppLovin were worth $402,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. National Bank of Canada FI grew its holdings in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares in the last quarter. Versant Capital Management Inc boosted its holdings in AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after acquiring an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of AppLovin by 54.7% during the fourth quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock valued at $70,000 after purchasing an additional 76 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

NASDAQ:APP opened at $343.02 on Tuesday. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The business’s fifty day moving average is $338.31 and its 200 day moving average is $201.05. 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 firm has a market cap of $115.11 billion, a price-to-earnings ratio of 103.95, a PEG ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $366.29.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last three months. Company insiders own 14.69% of the company’s stock.

About AppLovin

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.