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

IFP Advisors Inc trimmed its stake in AppLovin Co. (NASDAQ:APP) by 15.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,610 shares of the company’s stock after selling 285 shares during the quarter. IFP Advisors Inc’s holdings in AppLovin were worth $521,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC raised its holdings in shares of AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after acquiring an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC acquired a new position in shares of AppLovin in the third quarter worth $224,000. State Street Corp raised its holdings in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management increased its stake in AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the subject of several analyst reports. Piper Sandler upped their target price on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Stifel Nicolaus upped 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. UBS Group upped 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. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Four equities research 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. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $325.78 on Friday. The company has a market cap of $109.33 billion, a P/E ratio of 71.76, a PEG ratio of 3.02 and a beta of 2.30. 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 one year low of $57.40 and a one year high of $525.15. The business’s 50-day simple moving average is $367.79 and its 200 day simple moving average is $252.97.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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%. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 372,205 shares in the company, 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 have sold 224,872 shares of company stock valued at $82,158,554. Corporate insiders own 14.69% of the company’s stock.

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.