WESPAC Advisors LLC Sells 4,363 Shares of AppLovin Co. (NASDAQ:APP)

WESPAC Advisors LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 55.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,568 shares of the company’s stock after selling 4,363 shares during the quarter. WESPAC Advisors LLC’s holdings in AppLovin were worth $1,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of AppLovin in the fourth quarter worth $414,462,000. WCM Investment Management LLC grew its position in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after buying an additional 560,560 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Citigroup upped 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. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. BTIG Research upped their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Loop Capital lifted their price objective on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday. Four 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $442.18.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of AppLovin 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 transaction, the chief financial officer now directly owns 207,649 shares in the company, valued at approximately $76,032,757.84. This represents a 0.19 % 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 Stock Down 7.7 %

AppLovin stock opened at $415.31 on Friday. AppLovin Co. has a 1-year low of $56.45 and a 1-year high of $525.15. The firm has a market capitalization of $139.37 billion, a price-to-earnings ratio of 91.48, a price-to-earnings-growth ratio of 3.28 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. The firm’s fifty day moving average price is $365.59 and its two-hundred day moving average price is $244.47.

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