Mount Yale Investment Advisors LLC Lowers Position in AppLovin Co. (NASDAQ:APP)

Mount Yale Investment Advisors LLC cut its position in shares of AppLovin Co. (NASDAQ:APP) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,310 shares of the company’s stock after selling 1,591 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in AppLovin were worth $2,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in AppLovin by 1,642.4% in the fourth quarter. Wellington Management Group LLP now owns 182,033 shares of the company’s stock worth $7,254,000 after purchasing an additional 171,586 shares during the period. Atlas Capital Advisors LLC bought a new position in AppLovin during the 1st quarter valued at approximately $38,000. Sunbelt Securities Inc. bought a new stake in AppLovin in the first quarter worth $146,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AppLovin by 39.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company’s stock valued at $4,746,000 after acquiring an additional 19,381 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of AppLovin during the first quarter valued at $233,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

APP stock opened at $159.00 on Friday. The company has a market capitalization of $52.31 billion, a PE ratio of 94.64, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company’s fifty day moving average price is $118.22 and its 200-day moving average price is $92.53. AppLovin Co. has a one year low of $34.45 and a one year high of $165.38. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. On average, equities analysts anticipate that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the sale, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock valued at $51,022,478 in the last three months. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group increased their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Wedbush reduced their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Benchmark upped their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted their target price on AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, BTIG Research upped their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.58.

AppLovin Company 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.