By otakuyassine3@gmail.com 
Robertson Stephens Wealth Management LLC trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP – Free Report) by 13.3% during the fourth quarter, Holdings Channel reports. The fund owned 410,435 shares of the company’s stock after selling 62,833 shares during the quarter. AppLovin accounts for 4.7% of Robertson Stephens Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Robertson Stephens Wealth Management LLC’s holdings in AppLovin were worth $132,911,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of AppLovin by 454.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,560 shares of the company’s stock valued at $25,330,000 after acquiring an additional 61,933 shares in the last quarter. Jackson Wealth Management LLC acquired a new stake in AppLovin during the fourth quarter worth about $468,000. Yousif Capital Management LLC raised its position in shares of AppLovin by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,425 shares of the company’s stock worth $1,109,000 after purchasing an additional 132 shares during the period. Calamos Wealth Management LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $325,000. Finally, Optas LLC acquired a new position in AppLovin during the 4th quarter valued at approximately $271,000. 41.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
APP has been the subject of several recent research reports. Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Wells Fargo & Company boosted their price objective on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Citigroup lifted their target price on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.
AppLovin Stock Down 3.2 %
Shares of AppLovin stock opened at $368.27 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $45.08 and a 12-month high of $417.64. The firm has a market capitalization of $123.59 billion, a PE ratio of 111.60, a price-to-earnings-growth ratio of 3.00 and a beta of 2.30. The stock’s fifty day moving average is $344.30 and its 200-day moving average is $214.15.
AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Equities analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current year.
Insider Buying and Selling
In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,867 shares of company stock valued at $284,773,062. Company 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.
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