Pittenger & Anderson Inc. Sells 3,230 Shares of AppLovin Co. (NASDAQ:APP)

Pittenger & Anderson Inc. trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 65.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,690 shares of the company’s stock after selling 3,230 shares during the period. Pittenger & Anderson Inc.’s holdings in AppLovin were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. 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 buying an additional 40 shares in the last quarter. Fifth Third Bancorp raised its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the period. JFS Wealth Advisors LLC lifted its position in shares of AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Finally, Bogart Wealth LLC purchased a new stake in shares of AppLovin during the fourth quarter worth $37,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of AppLovin stock opened at $510.13 on Tuesday. The stock has a market capitalization of $171.20 billion, a price-to-earnings ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. The company has a fifty day moving average of $354.68 and a 200-day moving average of $234.57. AppLovin Co. has a 52-week low of $52.75 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. Equities research analysts expect that AppLovin Co. will post 4.09 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the transaction, the director now directly owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 828,991 shares of company stock worth $267,640,144 in the last ninety days. 14.69% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Piper Sandler increased their price target on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Citigroup raised their price target on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $422.18.

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.