Private Wealth Management Group LLC Reduces Stake in AppLovin Co. (NASDAQ:APP)

Private Wealth Management Group LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Truist Financial Corp raised its holdings in AppLovin by 510.9% in the 2nd quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock valued at $2,305,000 after acquiring an additional 23,163 shares during the last quarter. Cetera Investment Advisers grew its position in shares of AppLovin by 115.3% in the second quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock valued at $2,548,000 after purchasing an additional 16,397 shares during the period. Sanctuary Advisors LLC acquired a new position in AppLovin in the second quarter valued at $241,000. GAMMA Investing LLC lifted its position in AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after buying an additional 126 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new stake in AppLovin in the 3rd quarter worth about $725,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on APP shares. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Jefferies Financial Group lifted their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Bank of America increased their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Price Performance

Shares of APP stock opened at $368.27 on Thursday. AppLovin Co. has a twelve month low of $45.08 and a twelve month high of $417.64. The company has a market capitalization of $123.59 billion, a PE ratio of 111.60, a price-to-earnings-growth ratio of 3.00 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. The firm has a fifty day simple moving average of $344.30 and a 200-day simple moving average of $214.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. Equities research analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now owns 6,684 shares in the company, valued at $2,715,508.68. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 888,867 shares of company stock valued at $284,773,062. Insiders own 14.69% of the company’s stock.

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.