Quent Capital LLC Sells 65 Shares of AppLovin Co. (NASDAQ:APP)

Quent Capital LLC decreased its position in AppLovin Co. (NASDAQ:APP) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 502 shares of the company’s stock after selling 65 shares during the quarter. Quent Capital LLC’s holdings in AppLovin were worth $163,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of APP. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter valued at about $25,000. Fifth Third Bancorp lifted its stake in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the period. Capital Performance Advisors LLP bought a new position in AppLovin during the 3rd quarter valued at about $25,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Citigroup increased their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price for the company. Finally, Jefferies Financial Group increased their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Stock Up 1.4 %

NASDAQ APP opened at $380.32 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $127.63 billion, a P/E ratio of 115.25, a P/E/G ratio of 3.10 and a beta of 2.30. AppLovin Co. has a one year low of $45.12 and a one year high of $417.64. The stock has a 50 day moving average price of $347.30 and a 200-day moving average price of $224.62.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, equities analysts predict that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last three months. 14.69% of the stock is owned by insiders.

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.