AppLovin Co. (NASDAQ:APP) Shares Sold by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC decreased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 18.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,909 shares of the company’s stock after selling 888 shares during the period. Ashton Thomas Securities LLC’s holdings in AppLovin were worth $1,266,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. JFS Wealth Advisors LLC grew its position in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Truvestments Capital LLC grew its holdings in shares of AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after buying an additional 38 shares during the last quarter. National Bank of Canada FI increased its position in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the period. Hemington Wealth Management increased its position in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Finally, Versant Capital Management Inc raised 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 acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APP. Bank of America increased their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and set a $560.00 price target (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Stifel Nicolaus upped their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Trading Up 8.2 %

Shares of APP stock opened at $339.72 on Tuesday. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a market cap of $115.49 billion, a price-to-earnings ratio of 74.83, a PEG ratio of 3.02 and a beta of 2.33. 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 stock has a 50 day simple moving average of $354.31 and a 200-day simple moving average of $278.37.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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 research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by corporate insiders.

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.