Wolff Wiese Magana LLC Sells 120 Shares of AppLovin Co. (NASDAQ:APP)

Wolff Wiese Magana LLC trimmed its stake in shares of AppLovin Co. (NASDAQ:APP) by 44.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150 shares of the company’s stock after selling 120 shares during the period. Wolff Wiese Magana LLC’s holdings in AppLovin were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the third quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the 3rd quarter valued at about $29,000. Finally, Quest Partners LLC bought a new position in shares of AppLovin in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $333.49 on Wednesday. The company has a market capitalization of $111.92 billion, a PE ratio of 101.06, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. AppLovin Co. has a 12-month low of $39.43 and a 12-month high of $417.64. The firm’s 50 day moving average is $324.66 and its 200-day moving average is $184.47. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $0.30 EPS. The company’s quarterly revenue was up 38.6% on a year-over-year basis. Equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by insiders.

Analysts Set New Price Targets

APP has been the subject of several recent research reports. Citigroup upped their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Four research 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.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $338.06.

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.