Private Advisor Group LLC Lowers Stock Holdings in AppLovin Co. (NASDAQ:APP)

Private Advisor Group LLC decreased its position in AppLovin Co. (NASDAQ:APP) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,120 shares of the company’s stock after selling 1,171 shares during the quarter. Private Advisor Group LLC’s holdings in AppLovin were worth $3,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APP. ICICI Prudential Asset Management Co Ltd bought a new position in AppLovin during the fourth quarter valued at approximately $1,259,000. Laidlaw Wealth Management LLC bought a new stake in shares of AppLovin in the fourth quarter worth $201,000. TimesSquare Capital Management LLC purchased a new stake in AppLovin during the fourth quarter valued at $88,495,000. Global Retirement Partners LLC lifted its holdings in AppLovin by 21.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,738 shares of the company’s stock valued at $563,000 after acquiring an additional 307 shares during the period. Finally, New York State Common Retirement Fund boosted its position in AppLovin by 1.8% in the fourth quarter. New York State Common Retirement Fund now owns 150,535 shares of the company’s stock worth $48,748,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler upped their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Benchmark increased their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $442.18.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction on 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 owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,302 shares of company stock worth $65,305,354. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Down 7.7 %

Shares of APP opened at $415.31 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company 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 Co. has a twelve month low of $56.45 and a twelve month high of $525.15. The company’s fifty day simple moving average is $365.59 and its 200-day simple moving average is $245.72.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect 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.