Wilmington Savings Fund Society FSB Lowers Stock Position in AppLovin Co. (NASDAQ:APP)

Wilmington Savings Fund Society FSB trimmed its stake in AppLovin Co. (NASDAQ:APP) by 41.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,716 shares of the company’s stock after selling 2,668 shares during the period. Wilmington Savings Fund Society FSB’s holdings in AppLovin were worth $1,203,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in APP. Sanctuary Advisors LLC purchased a new position in AppLovin during the 2nd quarter valued at about $241,000. Atomi Financial Group Inc. acquired a new stake in shares of AppLovin during the third quarter worth about $305,000. CWM LLC boosted its stake in shares of AppLovin by 40.0% in the third quarter. CWM LLC now owns 4,659 shares of the company’s stock valued at $608,000 after purchasing an additional 1,331 shares during the period. UMB Bank n.a. grew its holdings in shares of AppLovin by 61.3% in the third quarter. UMB Bank n.a. now owns 903 shares of the company’s stock valued at $118,000 after purchasing an additional 343 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in AppLovin by 2,100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,600 shares of the company’s stock worth $861,000 after buying an additional 6,300 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by insiders.

AppLovin Stock Down 1.3 %

AppLovin stock opened at $375.72 on Monday. The stock has a 50-day simple moving average of $346.12 and a 200-day simple moving average of $219.26. The company has a market capitalization of $126.09 billion, a P/E ratio of 113.85, a PEG ratio of 3.10 and a beta of 2.30. 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 fifty-two week low of $45.12 and a fifty-two week high of $417.64.

Wall Street Analyst Weigh In

APP has been the subject of several recent research reports. BTIG Research raised their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. JPMorgan Chase & Co. upped their price target on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Bank of America boosted their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

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.