SRS Capital Advisors Inc. Sells 528 Shares of AppLovin Co. (NASDAQ:APP)

SRS Capital Advisors Inc. lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 49.3% in the 4th quarter, HoldingsChannel reports. The fund owned 543 shares of the company’s stock after selling 528 shares during the period. SRS Capital Advisors Inc.’s holdings in AppLovin were worth $176,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. New York State Teachers Retirement System boosted its holdings in AppLovin by 97.8% during the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock worth $1,939,000 after buying an additional 7,342 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new stake in shares of AppLovin in the third quarter valued at about $296,000. Stephens Inc. AR raised its position in shares of AppLovin by 56.4% in the third quarter. Stephens Inc. AR now owns 6,620 shares of the company’s stock valued at $864,000 after buying an additional 2,387 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of AppLovin by 150.6% in the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock valued at $133,000 after purchasing an additional 613 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of AppLovin by 2.1% in the third quarter. Janney Montgomery Scott LLC now owns 52,214 shares of the company’s stock valued at $6,817,000 after purchasing an additional 1,084 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 3.0 %

NASDAQ:APP opened at $327.23 on Wednesday. AppLovin Co. has a 1 year low of $59.30 and a 1 year high of $525.15. The stock has a market cap of $109.82 billion, a price-to-earnings ratio of 72.08, a PEG ratio of 3.02 and a beta of 2.30. The business has a fifty day moving average of $367.35 and a 200-day moving average of $258.85. 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 (NASDAQ:APP) last released its quarterly 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 return on equity of 188.55% and a net margin of 33.54%. Equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 406,947 shares of company stock worth $140,740,416 in the last three months. 14.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Benchmark raised their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. UBS Group raised their price objective on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $452.29.

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.