RWA Wealth Partners LLC Has $3.56 Million Holdings in AppLovin Co. (NASDAQ:APP)

RWA Wealth Partners LLC trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 23.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,997 shares of the company’s stock after selling 3,339 shares during the period. RWA Wealth Partners LLC’s holdings in AppLovin were worth $3,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SVB Wealth LLC acquired a new stake in AppLovin during the fourth quarter worth approximately $1,781,922,000. State Street Corp grew its stake in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Baillie Gifford & Co. increased its position in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Geode Capital Management LLC raised its stake in AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after purchasing an additional 2,373,885 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

AppLovin stock opened at $272.38 on Monday. The firm has a market cap of $92.60 billion, a P/E ratio of 60.00, a P/E/G ratio of 3.02 and a beta of 2.33. The stock’s 50 day moving average is $351.86 and its 200 day moving average is $284.38. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

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

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on 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 of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, 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 ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of several analyst reports. Bank of America lifted 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. UBS Group increased their price objective on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup boosted their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Stifel Nicolaus increased their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $435.47.

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.