SkyOak Wealth LLC Has $298,000 Position in AppLovin Co. (NASDAQ:APP)

SkyOak Wealth LLC lessened its stake in AppLovin Co. (NASDAQ:APP) by 57.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 919 shares of the company’s stock after selling 1,247 shares during the quarter. SkyOak Wealth LLC’s holdings in AppLovin were worth $298,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new position in AppLovin in the third quarter worth approximately $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at $29,000. Finally, Fifth Third Bancorp boosted its holdings in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on APP. Benchmark assumed coverage on AppLovin in a research report on Friday, January 10th. They issued a “buy” rating and a $375.00 price target for the company. Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer reissued an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research report on Tuesday, December 10th. Finally, UBS Group upped their price objective on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Four 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, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

AppLovin Stock Up 1.1 %

APP opened at $369.59 on Monday. The company has a market capitalization of $124.03 billion, a P/E ratio of 112.00, a P/E/G ratio of 2.97 and a beta of 2.29. 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 firm’s fifty day moving average price is $341.58 and its two-hundred day moving average price is $208.96. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for 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 firm’s revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. On average, analysts anticipate that AppLovin Co. will post 4.09 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. Corporate 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.