SeaCrest Wealth Management LLC decreased its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 27.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,959 shares of the company's stock after selling 735 shares during the quarter. SeaCrest Wealth Management LLC's holdings in AppLovin were worth $519,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Tcfg Wealth Management LLC purchased a new stake in shares of AppLovin during the fourth quarter worth about $369,000. Capital Advisory Group Advisory Services LLC acquired a new stake in AppLovin in the 4th quarter worth about $213,000. Vicus Capital purchased a new stake in AppLovin during the 4th quarter worth approximately $349,000. Peak Retirement Planning Inc. purchased a new position in shares of AppLovin in the fourth quarter valued at approximately $969,000. Finally, Parcion Private Wealth LLC purchased a new position in shares of AppLovin in the fourth quarter valued at approximately $366,000. Institutional investors and hedge funds own 41.85% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on APP shares. Wells Fargo & Company increased their price objective on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Loop Capital reaffirmed a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $438.10.
View Our Latest Stock Report on APP
Insider Activity at AppLovin
In related news, CFO Matthew Stumpf sold 9,714 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the transaction, the chief financial officer now directly owns 192,421 shares of the company's stock, valued at $81,394,083. The trade was a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Scott Billings sold 12,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $353.12, for a total value of $4,237,440.00. Following the completion of the sale, the director now directly owns 2,987 shares in the company, valued at $1,054,769.44. This represents a 80.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,211,468 shares of company stock worth $454,489,290 in the last three months. 14.69% of the stock is owned by company insiders.
AppLovin Trading Down 0.5%
Shares of APP traded down $1.73 during trading on Wednesday, reaching $381.88. 2,925,613 shares of the company traded hands, compared to its average volume of 6,117,300. The stock has a 50-day simple moving average of $315.46 and a 200-day simple moving average of $333.14. The stock has a market cap of $129.22 billion, a PE ratio of 83.93, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.
AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. On average, analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.
About AppLovin
(
Free Report)
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.
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