MML Investors Services LLC Has $20.68 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

MML Investors Services LLC decreased its stake in AppLovin Co. (NASDAQ:APP) by 5.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,846 shares of the company’s stock after selling 3,760 shares during the quarter. MML Investors Services LLC’s holdings in AppLovin were worth $20,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of APP. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $25,000. Riverview Trust Co increased its stake in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in shares of AppLovin during the fourth quarter worth $28,000. Hemington Wealth Management boosted its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on APP. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Monday. Morgan Stanley raised shares of AppLovin from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $470.00 to $350.00 in a research note on Thursday, April 10th. Benchmark increased their target price 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. The Goldman Sachs Group reduced their price target on AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company lowered their price objective on AppLovin from $538.00 to $386.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $424.84.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly 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 document filed 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 that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by company insiders.

AppLovin Trading Down 4.2 %

NASDAQ:APP opened at $228.13 on Tuesday. The firm has a market capitalization of $77.55 billion, a price-to-earnings ratio of 50.25, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The business’s 50-day moving average price is $310.23 and its two-hundred day moving average price is $298.90. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued 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 net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

AppLovin Company 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.