AppLovin Co. (NASDAQ:APP) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. decreased its holdings in AppLovin Co. (NASDAQ:APP) by 16.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,806 shares of the company’s stock after selling 2,800 shares during the quarter. Avantax Advisory Services Inc.’s holdings in AppLovin were worth $4,471,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC raised its stake in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after buying an additional 38 shares in the last quarter. Farther Finance Advisors LLC raised its stake in AppLovin by 130.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,352 shares of the company’s stock valued at $762,000 after buying an additional 1,332 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in AppLovin by 45.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,143 shares of the company’s stock valued at $1,018,000 after buying an additional 987 shares in the last quarter. Wealth High Governance Capital Ltda acquired a new stake in AppLovin during the fourth quarter valued at approximately $10,039,000. Finally, Moors & Cabot Inc. acquired a new stake in AppLovin during the fourth quarter valued at approximately $547,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $292.89 on Friday. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm’s 50-day simple moving average is $357.00 and its 200 day simple moving average is $266.70. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $99.57 billion, a P/E ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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 expect that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on APP. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Citigroup upped their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is owned by corporate insiders.

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.