Goldstein Advisors LLC Decreases Holdings in AppLovin Co. (NASDAQ:APP)

Goldstein Advisors LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 29.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,755 shares of the company’s stock after selling 734 shares during the period. Goldstein Advisors LLC’s holdings in AppLovin were worth $568,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APP. National Bank of Canada FI increased its stake in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the period. Versant Capital Management Inc increased its stake in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the period. Great Valley Advisor Group Inc. increased its stake in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the period. Avior Wealth Management LLC increased its stake in AppLovin by 54.7% in the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock worth $70,000 after purchasing an additional 76 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in AppLovin by 139.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APP. Piper Sandler began coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective on the stock. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. UBS Group lifted their price objective on AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Trading Up 6.9 %

AppLovin stock opened at $361.72 on Thursday. 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 business’s fifty day simple moving average is $334.41 and its two-hundred day simple moving average is $194.53. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The company has a market capitalization of $121.39 billion, a price-to-earnings ratio of 109.61, a price-to-earnings-growth ratio of 2.77 and a beta of 2.29.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the transaction, the chief financial officer now owns 207,649 shares in the company, valued at $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 over the last quarter. 14.69% of the stock is currently owned by insiders.

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.