AppLovin Co. (NASDAQ:APP) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 14.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,253 shares of the company’s stock after selling 2,296 shares during the quarter. Diversify Advisory Services LLC’s holdings in AppLovin were worth $4,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in APP. Capital Performance Advisors LLP acquired a new stake in AppLovin during the 3rd quarter valued at $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the third quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the third quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin during the 3rd quarter worth about $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on APP. BTIG Research lifted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark began coverage on shares of AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 target price for the company. Piper Sandler started coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Loop Capital increased their target price on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Trading Up 3.1 %

Shares of APP stock opened at $342.34 on Monday. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The firm’s 50 day moving average price is $330.75 and its two-hundred day moving average price is $189.78. The stock has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. 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 earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was up 38.6% on a year-over-year basis. On average, analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction dated 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 of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last quarter. Company 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.