AppLovin Co. (NASDAQ:APP) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in shares of AppLovin Co. (NASDAQ:APP) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,250 shares of the company’s stock after selling 6,805 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in AppLovin were worth $5,910,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at $25,000. Hemington Wealth Management boosted its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Fifth Third Bancorp boosted its holdings in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Bogart Wealth LLC bought a new stake in shares of AppLovin during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $325.78 on Friday. The stock’s 50-day moving average price is $367.79 and its two-hundred day moving average price is $252.97. 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 company has a market cap of $109.33 billion, a PE ratio of 71.76, a PEG ratio of 3.02 and a beta of 2.30. AppLovin Co. has a 1 year low of $57.40 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin 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 transaction, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 224,872 shares of company stock worth $82,158,554. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of a number of recent analyst reports. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Citigroup lifted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Macquarie lifted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Benchmark lifted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $452.29.

About AppLovin

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.