GeoWealth Management LLC Sells 898 Shares of AppLovin Co. (NASDAQ:APP)

GeoWealth Management LLC decreased its position in shares of AppLovin Co. (NASDAQ:APP) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,982 shares of the company’s stock after selling 898 shares during the quarter. GeoWealth Management LLC’s holdings in AppLovin were worth $1,937,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of APP. FMR LLC lifted its holdings in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new stake in AppLovin during the 4th quarter worth approximately $1,781,922,000. Baillie Gifford & Co. lifted its stake in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Norges Bank acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $238.22 on Friday. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The stock has a 50 day moving average of $313.27 and a 200-day moving average of $296.01. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $80.98 billion, a P/E ratio of 52.47, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction 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 approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 in the last three months. 14.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APP. Wells Fargo & Company reduced their target price on shares of AppLovin from $538.00 to $386.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. UBS Group dropped their target price on AppLovin from $630.00 to $450.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Benchmark boosted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $424.84.

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.