Wealth Alliance Has $982,000 Holdings in AppLovin Co. (NASDAQ:APP)

Wealth Alliance lessened its holdings in AppLovin Co. (NASDAQ:APP) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,033 shares of the company’s stock after selling 471 shares during the period. Wealth Alliance’s holdings in AppLovin were worth $982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin in the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. acquired a new position in AppLovin during the 4th quarter worth $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the 3rd quarter worth $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in AppLovin during the 3rd quarter worth $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $450.01 on Friday. The stock has a market cap of $151.02 billion, a P/E ratio of 99.12, a PEG ratio of 3.61 and a beta of 2.30. The company’s 50-day simple moving average is $363.77 and its 200 day simple moving average is $240.83. AppLovin Co. has a twelve month low of $54.50 and a twelve 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.

AppLovin (NASDAQ:APP) last posted its 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 net margin of 33.54% and a return on equity of 188.55%. As a group, research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on APP shares. Wedbush reissued an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Piper Sandler boosted their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Finally, Loop Capital boosted their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday. Four research 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 currently has an average rating of “Moderate Buy” and an average target price of $442.18.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the sale, the director now directly owns 154,500 shares in the company, valued at $52,482,105. This represents a 16.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,302 shares of company stock valued at $65,305,354 over the last quarter. 14.69% of the stock is owned by company insiders.

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.