Great Lakes Advisors LLC Sells 36 Shares of AppLovin Co. (NASDAQ:APP)

Great Lakes Advisors LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,046 shares of the company’s stock after selling 36 shares during the period. Great Lakes Advisors LLC’s holdings in AppLovin were worth $986,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. JFS Wealth Advisors LLC boosted its position in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. Truvestments Capital LLC boosted its position in AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares in the last quarter. National Bank of Canada FI boosted its position in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares in the last quarter. Hemington Wealth Management boosted its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APP. Piper Sandler lifted their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Trading Up 7.7 %

NASDAQ:APP opened at $292.89 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $99.57 billion, a price-to-earnings ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The business has a fifty day moving average price of $357.00 and a 200-day moving average price of $267.94.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the company’s 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 transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 322,871 shares of company stock worth $111,401,882 in the last three months. Corporate insiders own 14.69% of the company’s stock.

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.