Measured Wealth Private Client Group LLC Reduces Holdings in AppLovin Co. (NASDAQ:APP)

Measured Wealth Private Client Group LLC lessened its holdings in AppLovin Co. (NASDAQ:APP) by 34.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,601 shares of the company’s stock after selling 1,352 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in AppLovin were worth $842,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APP. Truist Financial Corp raised its position in shares of AppLovin by 510.9% during the 2nd quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock worth $2,305,000 after purchasing an additional 23,163 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of AppLovin by 115.3% in the second quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock worth $2,548,000 after acquiring an additional 16,397 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of AppLovin in the second quarter valued at $241,000. GAMMA Investing LLC boosted its stake in shares of AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new stake in AppLovin during the 3rd quarter worth about $725,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APP. Wedbush restated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their price target on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Benchmark initiated coverage on AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last quarter. 14.69% of the stock is owned by corporate insiders.

AppLovin Trading Up 3.4 %

Shares of APP stock opened at $380.63 on Friday. AppLovin Co. has a fifty-two week low of $45.12 and a fifty-two week high of $417.64. The firm’s 50 day moving average price is $345.34 and its two-hundred day moving average price is $215.31. The stock has a market cap of $127.74 billion, a price-to-earnings ratio of 115.34, a price-to-earnings-growth ratio of 3.00 and a beta of 2.30. 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 4.09 EPS for the current year.

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.