B. Riley Wealth Advisors Inc. Sells 2,388 Shares of AppLovin Co. (NASDAQ:APP)

B. Riley Wealth Advisors Inc. trimmed its stake in AppLovin Co. (NASDAQ:APP) by 34.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,462 shares of the company’s stock after selling 2,388 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in AppLovin were worth $371,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Point72 Europe London LLP acquired a new position in AppLovin in the fourth quarter valued at about $2,286,000. Bridgefront Capital LLC bought a new stake in AppLovin during the 4th quarter worth approximately $599,000. Brevan Howard Capital Management LP acquired a new stake in AppLovin during the 4th quarter valued at $1,578,000. Greenstone Partners & Co. LLC raised its position in AppLovin by 3.9% in the 4th quarter. Greenstone Partners & Co. LLC now owns 796,837 shares of the company’s stock valued at $31,754,000 after purchasing an additional 29,585 shares during the last quarter. Finally, Contour Asset Management LLC boosted its stake in AppLovin by 104.8% in the fourth quarter. Contour Asset Management LLC now owns 949,752 shares of the company’s stock worth $37,848,000 after purchasing an additional 486,097 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the transaction, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 over the last quarter. 14.69% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of APP stock opened at $139.95 on Tuesday. The firm has a market capitalization of $46.05 billion, a price-to-earnings ratio of 83.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.92. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $142.27. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a fifty day moving average of $97.77 and a 200-day moving average of $85.22.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.22 earnings per share. AppLovin’s revenue was up 44.0% compared to the same quarter last year. On average, equities research analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research analyst reports. Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Wedbush dropped their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group raised their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup boosted their price objective on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.44.

AppLovin Company 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.