Private Advisor Group LLC Sells 1,171 Shares of AppLovin Co. (NASDAQ:APP)

Private Advisor Group LLC trimmed its position in AppLovin Co. (NASDAQ:APP) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,120 shares of the company’s stock after selling 1,171 shares during the period. Private Advisor Group LLC’s holdings in AppLovin were worth $3,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $281,000. International Assets Investment Management LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $56,410,000. IFM Investors Pty Ltd raised its stake in shares of AppLovin by 11.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 40,439 shares of the company’s stock worth $5,279,000 after purchasing an additional 3,999 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of AppLovin by 14.8% in the 3rd quarter. Ballentine Partners LLC now owns 8,104 shares of the company’s stock valued at $1,058,000 after buying an additional 1,047 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AppLovin by 1.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after buying an additional 157 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $415.31 on Monday. The firm has a market cap of $139.37 billion, a PE ratio of 91.48, a PEG ratio of 3.28 and a beta of 2.30. AppLovin Co. has a 1 year low of $56.45 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s fifty day moving average price is $365.59 and its two-hundred day moving average price is $245.72.

AppLovin (NASDAQ:APP) last released its quarterly earnings data 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 188.55% and a net margin of 33.54%. On average, equities research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The stock was 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 approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,302 shares of company stock valued at $65,305,354. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. BTIG Research boosted their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Four analysts have rated the stock with 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 presently has an average rating of “Moderate Buy” and a consensus target price of $442.18.

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.