Cohen Capital Management Inc. Cuts Stock Position in AppLovin Co. (NASDAQ:APP)

Cohen Capital Management Inc. reduced its position in AppLovin Co. (NASDAQ:APP) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,098 shares of the company’s stock after selling 390 shares during the quarter. Cohen Capital Management Inc.’s holdings in AppLovin were worth $1,530,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FinTrust Capital Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter valued at about $32,000. Atlas Capital Advisors LLC bought a new stake in shares of AppLovin in the 1st quarter valued at about $38,000. Quarry LP bought a new stake in shares of AppLovin in the 4th quarter valued at about $44,000. GAMMA Investing LLC bought a new stake in shares of AppLovin in the 4th quarter valued at about $47,000. Finally, Lindbrook Capital LLC lifted its stake in shares of AppLovin by 26.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock valued at $53,000 after acquiring an additional 281 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Daiwa Capital Markets assumed coverage on AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 price target for the company. Jefferies Financial Group upped their price target on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Citigroup upped their price target on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Morgan Stanley upped their price target on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Wedbush upped their price target on AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.72.

AppLovin Stock Performance

Shares of APP stock traded down $2.35 on Thursday, reaching $82.01. The stock had a trading volume of 2,383,291 shares, compared to its average volume of 4,250,533. The stock has a market cap of $26.98 billion, a P/E ratio of 48.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.86. AppLovin Co. has a 1 year low of $27.32 and a 1 year high of $91.91. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The company has a 50 day simple moving average of $81.70 and a 200 day simple moving average of $65.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (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 firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. During the same period last year, the business posted ($0.01) EPS. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. Equities research analysts expect that AppLovin Co. will post 2.96 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $75.65, for a total transaction of $330,666.15. Following the sale, the director now directly owns 11,565 shares of the company’s stock, valued at $874,892.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $75.65, for a total value of $330,666.15. Following the sale, the director now directly owns 11,565 shares in the company, valued at $874,892.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,857,726 shares of company stock valued at $1,489,251,374. 14.69% of the stock is owned by company insiders.

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.