AppLovin Co. (NASDAQ:APP) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. cut its position in AppLovin Co. (NASDAQ:APP) by 56.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 911 shares of the company’s stock after selling 1,169 shares during the quarter. Sunbelt Securities Inc.’s holdings in AppLovin were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in AppLovin during the 4th quarter worth $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin during the 4th quarter worth $25,000. Riverview Trust Co grew its stake in 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 purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new position in AppLovin during the 4th quarter worth $28,000. Finally, Hemington Wealth Management grew its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Up 0.8%

AppLovin stock opened at $354.29 on Monday. The stock has a 50-day simple moving average of $292.64 and a 200-day simple moving average of $325.78. 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 company has a market capitalization of $119.89 billion, a P/E ratio of 78.04, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. Equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director now owns 221,209 shares in the company, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,233,254 shares of company stock valued at $446,927,149 in the last ninety days. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. HSBC set a $436.00 target price on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Oppenheimer reissued an “outperform” rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Bank of America boosted their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group lifted their price target on AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group lifted their price target on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $433.85.

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.