Perigon Wealth Management LLC Sells 2,465 Shares of AppLovin Co. (NASDAQ:APP)

Perigon Wealth Management LLC lowered its holdings in AppLovin Co. (NASDAQ:APP) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,996 shares of the company’s stock after selling 2,465 shares during the quarter. Perigon Wealth Management LLC’s holdings in AppLovin were worth $11,619,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in APP. Toronto Dominion Bank lifted its position in AppLovin by 5.2% during the 2nd quarter. Toronto Dominion Bank now owns 18,135 shares of the company’s stock worth $1,509,000 after buying an additional 900 shares in the last quarter. AXA S.A. lifted its position in shares of AppLovin by 33.2% during the second quarter. AXA S.A. now owns 54,807 shares of the company’s stock worth $4,561,000 after purchasing an additional 13,671 shares in the last quarter. APG Asset Management N.V. bought a new stake in shares of AppLovin during the second quarter valued at approximately $2,242,000. The Manufacturers Life Insurance Company increased its holdings in shares of AppLovin by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock valued at $4,110,000 after purchasing an additional 9,508 shares in the last quarter. Finally, Algert Global LLC raised its position in AppLovin by 34.2% in the 2nd quarter. Algert Global LLC now owns 6,736 shares of the company’s stock worth $561,000 after purchasing an additional 1,716 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. The Goldman Sachs Group increased their price objective on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday. Stifel Nicolaus lifted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Bank of America boosted their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group raised their target price on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four 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’s stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $366.29.

Insider Transactions at AppLovin

In related news, CFO Herald Y. Chen sold 400 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the transaction, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last three months. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $343.02 on Tuesday. The firm has a market cap of $115.11 billion, a P/E ratio of 103.95, a PEG ratio of 2.96 and a beta of 2.29. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm’s 50 day moving average price is $338.31 and its two-hundred day moving average price is $201.05.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. On average, analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal 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.