Steph & Co. Decreases Stock Position in AppLovin Co. (NASDAQ:APP)

Steph & Co. lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 66.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,020 shares of the company’s stock after selling 2,002 shares during the period. Steph & Co.’s holdings in AppLovin were worth $330,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC bought a new position in AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin during the 2nd quarter valued at approximately $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and raised their target price for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Citigroup increased their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. BTIG Research boosted their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.06.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were 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 directly owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Herald Y. Chen sold 400 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This trade represents a 0.19 % 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 worth $284,773,062. Insiders own 14.69% of the company’s stock.

AppLovin Stock Up 4.3 %

Shares of APP stock opened at $335.03 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $112.43 billion, a PE ratio of 101.52, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The business’s fifty day moving average is $324.66 and its 200-day moving average is $184.47. AppLovin Co. has a 1 year low of $39.43 and a 1 year high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 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 revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. Equities analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

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.