AppLovin Co. (NASDAQ:APP) Shares Sold by Wealth Alliance

Wealth Alliance decreased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,033 shares of the company’s stock after selling 471 shares during the quarter. Wealth Alliance’s holdings in AppLovin were worth $982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the third quarter valued at approximately $29,000. Sequoia Financial Advisors LLC acquired a new stake in shares of AppLovin in the third quarter valued at approximately $281,000. Signaturefd LLC increased its stake in shares of AppLovin by 12.3% in the third quarter. Signaturefd LLC now owns 2,794 shares of the company’s stock valued at $365,000 after purchasing an additional 305 shares during the period. Private Advisor Group LLC increased its stake in shares of AppLovin by 58.0% in the third quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock valued at $1,474,000 after purchasing an additional 4,147 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of AppLovin in the third quarter valued at approximately $56,410,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Wedbush reiterated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. UBS Group increased their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Loop Capital increased their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $442.18.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company’s stock, 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. In the last three months, insiders have sold 196,302 shares of company stock worth $65,305,354. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Down 8.9 %

NASDAQ APP opened at $450.01 on Friday. AppLovin Co. has a twelve month low of $54.50 and a twelve month high of $525.15. 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 stock has a market cap of $151.02 billion, a price-to-earnings ratio of 99.12, a PEG ratio of 3.61 and a beta of 2.30. The firm’s 50 day moving average price is $363.77 and its two-hundred day moving average price is $240.83.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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 analysts anticipate that AppLovin Co. will post 6.87 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.