Hillsdale Investment Management Inc. Has $872,000 Stake in AppLovin Co. (NASDAQ:APP)

Hillsdale Investment Management Inc. trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 2.3% in the first quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the company’s stock after selling 300 shares during the period. Hillsdale Investment Management Inc.’s holdings in AppLovin were worth $872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gulf International Bank UK Ltd acquired a new stake in shares of AppLovin in the first quarter valued at approximately $1,131,000. Janney Montgomery Scott LLC raised its position in AppLovin by 167.0% during the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares in the last quarter. CWM LLC raised its position in AppLovin by 16.3% during the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after purchasing an additional 401 shares in the last quarter. Contrarius Investment Management Ltd acquired a new position in AppLovin during the fourth quarter valued at approximately $7,334,000. Finally, Allspring Global Investments Holdings LLC raised its position in AppLovin by 177.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company’s stock valued at $23,592,000 after purchasing an additional 217,887 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the sale, the insider now owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total transaction of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at $874,892.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the sale, the insider now directly owns 448,490 shares in the company, valued at approximately $36,493,631.30. The disclosure for this sale can be found here. Insiders have sold a total of 17,857,726 shares of company stock valued at $1,489,251,374 over the last 90 days. 14.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APP. Wedbush boosted their price objective on shares of AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Stifel Nicolaus boosted their price objective on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. BTIG Research boosted their price objective on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Finally, Citigroup upped their price target on shares of AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.72.

AppLovin Trading Up 2.4 %

Shares of AppLovin stock traded up $1.97 during trading on Tuesday, hitting $85.21. The company’s stock had a trading volume of 416,461 shares, compared to its average volume of 4,138,655. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. AppLovin Co. has a 52 week low of $27.96 and a 52 week high of $91.91. The stock has a market cap of $28.03 billion, a price-to-earnings ratio of 49.55, a price-to-earnings-growth ratio of 1.38 and a beta of 1.86. The stock has a 50-day moving average price of $82.20 and a two-hundred day moving average price of $68.22.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $973.70 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. AppLovin’s revenue for the quarter was up 47.9% on a year-over-year basis. Equities research analysts anticipate that AppLovin Co. will post 2.96 EPS for the current fiscal year.

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.