EverSource Wealth Advisors LLC Trims Position in AppLovin Co. (NASDAQ:APP)

EverSource Wealth Advisors LLC decreased its position in shares of AppLovin Co. (NASDAQ:APP) by 51.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 454 shares of the company’s stock after selling 475 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in AppLovin were worth $147,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of APP. Sequoia Financial Advisors LLC grew its holdings in AppLovin by 45.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,143 shares of the company’s stock valued at $1,018,000 after buying an additional 987 shares in the last quarter. Wealth High Governance Capital Ltda bought a new position in shares of AppLovin during the fourth quarter worth $10,039,000. Moors & Cabot Inc. bought a new stake in AppLovin in the 4th quarter valued at $547,000. Avantax Planning Partners Inc. bought a new stake in AppLovin in the 4th quarter valued at $469,000. Finally, S&CO Inc. purchased a new stake in AppLovin in the 4th quarter worth $218,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 4.8 %

Shares of NASDAQ:APP opened at $306.85 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business has a 50 day simple moving average of $356.03 and a two-hundred day simple moving average of $270.72. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm has a market capitalization of $104.32 billion, a PE ratio of 67.59, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

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

Analysts Set New Price Targets

APP has been the topic of several research reports. Jefferies Financial Group lifted their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Loop Capital lifted their price objective on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Macquarie increased 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. Oppenheimer restated an “outperform” rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Finally, Citigroup increased their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 322,871 shares of company stock worth $111,401,882. Insiders own 14.69% of the company’s stock.

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.