First Horizon Advisors Inc. Sells 464 Shares of AppLovin Co. (NASDAQ:APP)

First Horizon Advisors Inc. reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,868 shares of the company’s stock after selling 464 shares during the quarter. First Horizon Advisors Inc.’s holdings in AppLovin were worth $605,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC increased its stake in AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. National Bank of Canada FI increased its stake in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the last quarter. Hemington Wealth Management increased its stake in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Versant Capital Management Inc increased its stake in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after acquiring an additional 53 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its stake in shares of AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Down 1.2 %

AppLovin stock opened at $410.45 on Tuesday. The business has a fifty day moving average of $366.92 and a two-hundred day moving average of $248.07. 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 firm has a market cap of $137.74 billion, a P/E ratio of 90.41, a P/E/G ratio of 3.28 and a beta of 2.30. AppLovin Co. has a twelve month low of $57.40 and a twelve month high of $525.15.

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

Insider Activity

In other news, CFO Herald Y. Chen sold 400 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $339.69, for a total value of $10,360,545.00. Following the sale, the director now owns 154,500 shares of the company’s stock, valued at approximately $52,482,105. This represents a 16.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,372 shares of company stock worth $92,519,099. Insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America upped their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. 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. 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $442.18.

AppLovin 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.