WESPAC Advisors LLC Sells 4,363 Shares of AppLovin Co. (NASDAQ:APP)

WESPAC Advisors LLC lessened its stake in AppLovin Co. (NASDAQ:APP) by 55.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,568 shares of the company’s stock after selling 4,363 shares during the quarter. WESPAC Advisors LLC’s holdings in AppLovin were worth $1,155,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new stake in shares of AppLovin in the third quarter valued at approximately $281,000. Signaturefd LLC raised its holdings in AppLovin by 12.3% during the 3rd quarter. Signaturefd LLC now owns 2,794 shares of the company’s stock valued at $365,000 after acquiring an additional 305 shares during the period. Private Advisor Group LLC lifted its position in shares of AppLovin by 58.0% during the third quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock worth $1,474,000 after acquiring an additional 4,147 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of AppLovin in the third quarter valued at $56,410,000. Finally, IFM Investors Pty Ltd raised its stake in shares of AppLovin by 11.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 40,439 shares of the company’s stock valued at $5,279,000 after purchasing an additional 3,999 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on APP shares. Wells Fargo & Company lifted their target price on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th. UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $442.18.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,302 shares of company stock worth $65,305,354. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock opened at $415.31 on Friday. 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 $56.45 and a 52 week high of $525.15. The firm’s fifty day moving average is $365.59 and its 200 day moving average is $244.47. The firm has a market cap of $139.37 billion, a P/E ratio of 91.48, a P/E/G ratio of 3.28 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) 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%. Research analysts predict that AppLovin Co. will post 6.87 earnings per share 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.