AppLovin Co. (NASDAQ:APP) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,132 shares of the company’s stock after selling 801 shares during the period. Orion Portfolio Solutions LLC’s holdings in AppLovin were worth $7,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in AppLovin in the 4th quarter valued at about $25,000. Riverview Trust Co lifted its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Hemington Wealth Management grew its position in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the period. Fifth Third Bancorp increased its stake in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Smithfield Trust Co purchased a new stake in AppLovin in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Piper Sandler lifted their price target on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. UBS Group upped their price objective on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Finally, Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $435.47.

AppLovin Stock Up 4.1 %

Shares of NASDAQ:APP opened at $272.38 on Friday. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm’s 50 day moving average price is $351.86 and its 200 day moving average price is $283.07. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $92.60 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

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%. As a group, equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 in the last ninety days. Insiders own 14.69% of the company’s stock.

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.