AppLovin Co. (NASDAQ:APP) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,021 shares of the company’s stock after selling 369 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in AppLovin were worth $654,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co raised its stake in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC purchased a new position in shares of AppLovin during the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management grew its stake in 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. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Benchmark raised their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company cut their price objective on AppLovin from $538.00 to $386.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. UBS Group lowered their price target on AppLovin from $630.00 to $450.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $415.15.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $307.58 on Friday. The stock has a fifty day simple moving average of $276.82 and a 200-day simple moving average of $305.94. 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 stock has a market cap of $104.56 billion, a PE ratio of 67.75, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. Equities analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current 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.