AppLovin Co. (NASDAQ:APP) Shares Sold by Private Wealth Management Group LLC

Private Wealth Management Group LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 25.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105 shares of the company’s stock after selling 36 shares during the quarter. Private Wealth Management Group LLC’s holdings in AppLovin were worth $34,000 as of its most recent SEC filing.

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

AppLovin Trading Down 3.2 %

NASDAQ:APP opened at $368.27 on Thursday. The company has a market capitalization of $123.59 billion, a PE ratio of 111.60, a P/E/G ratio of 3.00 and a beta of 2.30. AppLovin Co. has a 52-week low of $45.08 and a 52-week high of $417.64. The stock’s 50 day moving average price is $344.30 and its 200 day moving average price is $214.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was up 38.6% on a year-over-year basis. On average, research analysts anticipate that AppLovin Co. will post 4.09 EPS for the current year.

Insider Activity

In other AppLovin news, 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 transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 888,867 shares of company stock valued at $284,773,062. Insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. UBS Group raised their price target on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus upped their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group raised their target price 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. Finally, Oppenheimer restated an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.