Goldstein Advisors LLC Has $568,000 Stake in AppLovin Co. (NASDAQ:APP)

Goldstein Advisors LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 29.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,755 shares of the company’s stock after selling 734 shares during the quarter. Goldstein Advisors LLC’s holdings in AppLovin were worth $568,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC raised its position in AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after buying an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC purchased a new stake in AppLovin in the 3rd quarter valued at $224,000. State Street Corp raised its position in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. raised its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after buying an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management raised its position in AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying 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

Several equities research analysts have recently issued reports on the company. Loop Capital raised their target price on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. UBS Group raised their target price on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their target price on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $355.41.

AppLovin Stock Up 6.9 %

Shares of NASDAQ APP opened at $361.72 on Thursday. AppLovin Co. has a 52 week low of $40.71 and a 52 week high of $417.64. The business has a 50-day simple moving average of $334.41 and a two-hundred day simple moving average of $194.53. 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 company has a market cap of $121.39 billion, a P/E ratio of 109.61, a P/E/G ratio of 2.77 and a beta of 2.29.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. Research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock valued at $284,773,062 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

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.