Encompass More Asset Management Sells 1,444 Shares of AppLovin Co. (NASDAQ:APP)

Encompass More Asset Management cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 48.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,531 shares of the company’s stock after selling 1,444 shares during the period. Encompass More Asset Management’s holdings in AppLovin were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Veracity Capital LLC raised its holdings in shares of AppLovin by 94.3% during the fourth quarter. Veracity Capital LLC now owns 3,451 shares of the company’s stock worth $1,118,000 after acquiring an additional 1,675 shares during the period. Donoghue Forlines LLC lifted its position in shares of AppLovin by 28.4% in the fourth quarter. Donoghue Forlines LLC now owns 6,317 shares of the company’s stock valued at $2,046,000 after buying an additional 1,399 shares during the last quarter. Capital Planning Advisors LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $256,000. Whalen Wealth Management Inc. acquired a new position in shares of AppLovin during the 4th quarter worth approximately $286,000. Finally, Avior Wealth Management LLC raised its position in shares of AppLovin by 54.7% in the fourth quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock valued at $70,000 after purchasing an additional 76 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % 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, 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 transaction of $203,135.00. Following the completion of the transaction, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Up 0.1 %

AppLovin stock opened at $362.76 on Friday. The firm has a 50 day moving average price of $335.97 and a two-hundred day moving average price of $195.69. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The firm has a market cap of $121.74 billion, a price-to-earnings ratio of 110.41, a PEG ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating 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 business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. Equities analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on APP. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and upped their price objective for the company from $103.00 to $150.00 in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Bank of America boosted their price target on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $355.41.

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.