Beacon Financial Group Sells 191 Shares of AppLovin Co. (NASDAQ:APP)

Beacon Financial Group lowered its stake in AppLovin Co. (NASDAQ:APP) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,474 shares of the company’s stock after selling 191 shares during the period. Beacon Financial Group’s holdings in AppLovin were worth $526,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of APP. GHP Investment Advisors Inc. acquired a new position in AppLovin during the 4th quarter valued at about $25,000. Fifth Third Bancorp raised its stake in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 89 shares during the period. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter valued at approximately $25,000. Finally, Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth $27,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APP. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $480.00 target price on shares of AppLovin in a report on Tuesday, December 10th. Citigroup upped their price target on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price objective on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Macquarie upped their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the firm’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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock worth $267,640,144 over the last ninety days. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

APP opened at $380.32 on Thursday. The company has a market capitalization of $127.63 billion, a price-to-earnings ratio of 115.25, a P/E/G ratio of 3.10 and a beta of 2.30. The business’s 50-day moving average price is $347.30 and its two-hundred day moving average price is $224.62. AppLovin Co. has a 1 year low of $45.12 and a 1 year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. Equities analysts expect that AppLovin Co. will post 4.09 EPS for the current fiscal year.

AppLovin 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.