GC Wealth Management RIA LLC Sells 790 Shares of AppLovin Co. (NASDAQ:APP)

GC Wealth Management RIA LLC reduced its stake in AppLovin Co. (NASDAQ:APP) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,150 shares of the company’s stock after selling 790 shares during the period. GC Wealth Management RIA LLC’s holdings in AppLovin were worth $1,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of APP. Farther Finance Advisors LLC grew its stake in shares of AppLovin by 150.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock worth $133,000 after buying an additional 613 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of AppLovin in the 3rd quarter worth $25,000. Assetmark Inc. grew its stake in shares of AppLovin by 131.8% in the 3rd quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock worth $1,258,000 after buying an additional 5,480 shares in the last quarter. Atria Investments Inc purchased a new position in shares of AppLovin in the 3rd quarter worth $574,000. Finally, Legacy Capital Wealth Partners LLC purchased a new position in shares of AppLovin in the 3rd quarter worth $268,000. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,371 shares of company stock worth $139,793,507. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Trading Down 12.0 %

Shares of APP opened at $238.08 on Tuesday. AppLovin Co. has a 1-year low of $59.30 and a 1-year high of $525.15. The company has a 50-day moving average of $361.89 and a 200 day moving average of $264.02. The firm has a market capitalization of $80.94 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 3.02 and a beta of 2.33. 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 announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Citigroup lifted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. Jefferies Financial Group lifted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Benchmark lifted their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Company 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.