Kestra Private Wealth Services LLC Has $6.62 Million Holdings in AppLovin Co. (NASDAQ:APP)

Kestra Private Wealth Services LLC decreased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 11.0% in the 4th quarter, Holdings Channel reports. The fund owned 20,436 shares of the company’s stock after selling 2,534 shares during the period. Kestra Private Wealth Services LLC’s holdings in AppLovin were worth $6,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of AppLovin during the 2nd quarter valued at $241,000. Atomi Financial Group Inc. acquired a new stake in shares of AppLovin during the third quarter valued at about $305,000. CWM LLC grew its holdings in shares of AppLovin by 40.0% during the third quarter. CWM LLC now owns 4,659 shares of the company’s stock worth $608,000 after purchasing an additional 1,331 shares during the last quarter. UMB Bank n.a. increased its stake in shares of AppLovin by 61.3% in the third quarter. UMB Bank n.a. now owns 903 shares of the company’s stock valued at $118,000 after buying an additional 343 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in AppLovin by 2,100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,600 shares of the company’s stock valued at $861,000 after buying an additional 6,300 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 in the last three months. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. Benchmark assumed coverage on shares of AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 target price on the stock. Citigroup increased their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Piper Sandler began coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. Bank of America increased their price target on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Trading Down 1.3 %

NASDAQ:APP opened at $375.72 on Monday. The firm has a fifty day simple moving average of $346.12 and a two-hundred day simple moving average of $219.26. AppLovin Co. has a 12 month low of $45.12 and a 12 month high of $417.64. The stock has a market capitalization of $126.09 billion, a price-to-earnings ratio of 113.85, a PEG ratio of 3.10 and a beta of 2.30. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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.