AppLovin Co. (NASDAQ:APP) Stock Holdings Trimmed by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lowered its position in AppLovin Co. (NASDAQ:APP) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 410,435 shares of the company’s stock after selling 62,833 shares during the quarter. AppLovin comprises about 4.7% of Robertson Stephens Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Robertson Stephens Wealth Management LLC owned approximately 0.12% of AppLovin worth $132,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in AppLovin by 139.1% during 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 in the last quarter. Capital Performance Advisors LLP acquired a new position in AppLovin during the 3rd quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the 3rd quarter valued at about $27,000. Finally, DT Investment Partners LLC purchased a new position in shares of AppLovin in the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on APP shares. Citigroup boosted their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. Wells Fargo & Company raised their price target on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Four equities research 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

Insiders Place Their Bets

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock valued at $284,773,062. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $368.27 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. AppLovin Co. has a 12-month low of $45.08 and a 12-month high of $417.64. The stock has a market cap of $123.59 billion, a P/E ratio of 111.60, a PEG ratio of 3.00 and a beta of 2.30. The company has a 50-day moving average of $344.30 and a two-hundred day moving average of $214.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, research analysts predict that AppLovin Co. will post 4.09 EPS for the current fiscal year.

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.