Ibex Wealth Advisors Has $13.69 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Ibex Wealth Advisors decreased its holdings in AppLovin Co. (NASDAQ:APP) by 67.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,263 shares of the company’s stock after selling 86,686 shares during the quarter. AppLovin makes up 1.6% of Ibex Wealth Advisors’ investment portfolio, making the stock its 10th biggest holding. Ibex Wealth Advisors’ holdings in AppLovin were worth $13,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Townsquare Capital LLC lifted its holdings in AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after buying an additional 3,126 shares during the period. Second Half Financial Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at about $224,000. State Street Corp grew its stake in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the period. Eagle Asset Management Inc. increased its holdings in AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying an additional 81,331 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction 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 $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of AppLovin stock traded down $1.44 during mid-day trading on Wednesday, hitting $359.31. 409,417 shares of the stock were exchanged, compared to its average volume of 3,974,574. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The company has a 50-day simple moving average of $339.10 and a 200 day simple moving average of $203.00. The company has a market capitalization of $120.58 billion, a P/E ratio of 108.61, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

Analyst Ratings Changes

Several research firms have recently weighed in on APP. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Citigroup lifted their price target on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wedbush reissued an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Loop Capital boosted their target price on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group increased their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $366.29.

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.