Allworth Financial LP Sells 138 Shares of AppLovin Co. (NASDAQ:APP)

Allworth Financial LP cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 16.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679 shares of the company’s stock after selling 138 shares during the period. Allworth Financial LP’s holdings in AppLovin were worth $220,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Securities Inc. lifted its holdings in AppLovin by 2.9% during the 4th quarter. Principal Securities Inc. now owns 5,899 shares of the company’s stock worth $1,910,000 after buying an additional 165 shares in the last quarter. Everhart Financial Group Inc. lifted its holdings in AppLovin by 14.9% during the 4th quarter. Everhart Financial Group Inc. now owns 2,234 shares of the company’s stock worth $723,000 after buying an additional 290 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in AppLovin during the 4th quarter worth $2,202,000. Rhumbline Advisers lifted its holdings in AppLovin by 5.9% during the 4th quarter. Rhumbline Advisers now owns 440,489 shares of the company’s stock worth $142,643,000 after buying an additional 24,451 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in AppLovin by 2,604.9% during the 4th quarter. AustralianSuper Pty Ltd now owns 180,420 shares of the company’s stock worth $58,425,000 after buying an additional 173,750 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on APP shares. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Oppenheimer reissued an “outperform” rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Macquarie increased their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $442.18.

AppLovin Price Performance

APP stock opened at $415.31 on Friday. The stock has a 50-day moving average price of $365.59 and a two-hundred day moving average price of $244.47. The stock has a market cap of $139.37 billion, a PE 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. AppLovin Co. has a 1 year low of $56.45 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,302 shares of company stock worth $65,305,354. Corporate insiders own 14.69% of the company’s stock.

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.