AppLovin Co. (NASDAQ:APP) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lowered its stake in AppLovin Co. (NASDAQ:APP) by 21.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,160 shares of the company’s stock after selling 2,250 shares during the period. Stratos Wealth Partners LTD.’s holdings in AppLovin were worth $2,642,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. Oppenheimer reissued an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research report on Tuesday, December 10th. Macquarie boosted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus increased their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Bank of America boosted their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

Insiders Place Their Bets

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by company insiders.

AppLovin Trading Down 1.3 %

Shares of APP stock opened at $375.72 on Friday. The company has a market capitalization of $126.09 billion, a P/E ratio of 113.85, 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. AppLovin Co. has a twelve month low of $45.12 and a twelve month high of $417.64. The business’s 50 day moving average is $346.12 and its two-hundred day moving average is $217.34.

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

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.