Strategic Blueprint LLC Lowers Position in AppLovin Co. (NASDAQ:APP)

Strategic Blueprint LLC trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP) by 37.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,974 shares of the company’s stock after selling 1,166 shares during the period. Strategic Blueprint LLC’s holdings in AppLovin were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in shares of AppLovin by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock worth $4,110,000 after purchasing an additional 9,508 shares during the period. Algert Global LLC lifted its holdings in AppLovin by 34.2% during the second quarter. Algert Global LLC now owns 6,736 shares of the company’s stock worth $561,000 after buying an additional 1,716 shares during the period. NewEdge Advisors LLC boosted its position in AppLovin by 13,831.6% during the 2nd quarter. NewEdge Advisors LLC now owns 21,176 shares of the company’s stock valued at $1,762,000 after acquiring an additional 21,024 shares in the last quarter. EP Wealth Advisors LLC boosted its position in AppLovin by 4.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 11,342 shares of the company’s stock valued at $944,000 after acquiring an additional 458 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of AppLovin by 510.9% in the 2nd quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock valued at $2,305,000 after acquiring an additional 23,163 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the 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 transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock valued at $284,773,062 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Trading Down 0.2 %

Shares of NASDAQ:APP opened at $365.51 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64. The business has a 50 day moving average of $340.85 and a two-hundred day moving average of $205.26. The company has a market capitalization of $122.66 billion, a PE ratio of 110.76, a PEG ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. As a group, analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Loop Capital upped their price objective on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. The Goldman Sachs Group increased their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

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.