AppLovin Co. (NASDAQ:APP) Shares Sold by IFP Advisors Inc

IFP Advisors Inc lowered its stake in AppLovin Co. (NASDAQ:APP) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,610 shares of the company’s stock after selling 285 shares during the period. IFP Advisors Inc’s holdings in AppLovin were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the 4th quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth about $27,000. Hemington Wealth Management raised its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of several research analyst reports. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a research note on Thursday. Finally, Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $452.29.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction that occurred on 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 sale, the insider now directly owns 405,676 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,872 shares of company stock worth $82,158,554 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Trading Up 1.6 %

Shares of APP stock opened at $325.78 on Friday. The business’s 50 day moving average is $367.79 and its two-hundred day moving average is $252.97. AppLovin Co. has a twelve month low of $57.40 and a twelve month high of $525.15. The company has a market capitalization of $109.33 billion, a P/E ratio of 71.76, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities analysts forecast that AppLovin Co. will post 6.87 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.