Avantax Advisory Services Inc. Has $4.47 Million Holdings in AppLovin Co. (NASDAQ:APP)

Avantax Advisory Services Inc. lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,806 shares of the company’s stock after selling 2,800 shares during the period. Avantax Advisory Services Inc.’s holdings in AppLovin were worth $4,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. GHP Investment Advisors Inc. purchased a new position in AppLovin during the 4th quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the 3rd quarter valued at about $27,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Hemington Wealth Management grew its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APP. Stifel Nicolaus lifted their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Macquarie lifted their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. UBS Group lifted their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $438.28.

Insider Activity

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were 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 directly owns 372,205 shares of the company’s stock, valued at $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 three months, insiders sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is owned by company insiders.

AppLovin Trading Up 7.7 %

Shares of APP stock opened at $292.89 on Friday. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s 50 day moving average is $357.00 and its two-hundred day moving average is $266.70. The company has a market cap of $99.57 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

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

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.