Thrivent Financial for Lutherans Has $5.16 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Thrivent Financial for Lutherans lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 38.2% during the fourth quarter, HoldingsChannel reports. The firm owned 15,940 shares of the company’s stock after selling 9,870 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AppLovin were worth $5,162,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. JFS Wealth Advisors LLC grew its holdings in AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the period. Truvestments Capital LLC lifted its position in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after buying an additional 38 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the period. Hemington Wealth Management increased its holdings in shares of 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. Finally, Versant Capital Management Inc lifted its holdings in AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 8.2 %

NASDAQ APP opened at $339.72 on Tuesday. The business has a fifty day moving average price of $354.31 and a two-hundred day moving average price of $278.37. The stock has a market capitalization of $115.49 billion, a PE ratio of 74.83, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler upped their price objective on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Loop Capital lifted their price target on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $438.28.

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.