Simplicity Wealth LLC Sells 137 Shares of AppLovin Co. (NASDAQ:APP)

Simplicity Wealth LLC lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,197 shares of the company’s stock after selling 137 shares during the quarter. Simplicity Wealth LLC’s holdings in AppLovin were worth $711,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of AppLovin during the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new position in shares of AppLovin during the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $27,000. Riverview Trust Co raised its stake in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares in the last quarter. Finally, Hemington Wealth Management raised its stake in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of several research analyst reports. Bank of America boosted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Oppenheimer reissued an “outperform” rating and set a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Arete Research raised shares of AppLovin to a “strong sell” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Stock Performance

APP opened at $270.48 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a fifty day moving average price of $363.84 and a 200 day moving average price of $262.97. AppLovin Co. has a 1 year low of $59.30 and a 1 year high of $525.15. The stock has a market cap of $90.77 billion, a P/E ratio of 59.58, a P/E/G ratio of 3.02 and a beta of 2.33.

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

Insider Activity at AppLovin

In other AppLovin news, 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 directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 406,047 shares of company stock worth $140,390,817 in the last three months. Company 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.