Dynasty Wealth Management LLC Lowers Position in AppLovin Co. (NASDAQ:APP)

Dynasty Wealth Management LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 46.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,295 shares of the company’s stock after selling 2,023 shares during the quarter. Dynasty Wealth Management LLC’s holdings in AppLovin were worth $743,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in APP. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of AppLovin by 1.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after purchasing an additional 157 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of AppLovin in the third quarter valued at approximately $292,000. abrdn plc raised its stake in shares of AppLovin by 784.2% during the 3rd quarter. abrdn plc now owns 49,691 shares of the company’s stock worth $6,487,000 after buying an additional 44,071 shares during the period. Strategic Blueprint LLC lifted its position in shares of AppLovin by 13.9% during the 3rd quarter. Strategic Blueprint LLC now owns 3,140 shares of the company’s stock valued at $410,000 after buying an additional 383 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in AppLovin by 97.8% in the 3rd quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after acquiring an additional 7,342 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 224,872 shares of company stock valued at $82,158,554. 14.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Benchmark lifted their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Piper Sandler lifted their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Finally, BTIG Research boosted their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $452.29.

AppLovin Stock Performance

AppLovin stock opened at $325.78 on Friday. The firm has a 50 day simple moving average of $367.79 and a 200-day simple moving average of $252.97. The stock has a market cap of $109.33 billion, a price-to-earnings ratio of 71.76, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1-year low of $57.40 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. On average, analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

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.