Ashton Thomas Securities LLC Reduces Stake in AppLovin Co. (NASDAQ:APP)

Ashton Thomas Securities LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,909 shares of the company’s stock after selling 888 shares during the period. Ashton Thomas Securities LLC’s holdings in AppLovin were worth $1,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC boosted its holdings in AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the last quarter. State Street Corp raised its position in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares during the period. Zacks Investment Management lifted its holdings in AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares during the last quarter. Toronto Dominion Bank raised its position in AppLovin by 38.8% in the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock valued at $3,286,000 after purchasing an additional 7,039 shares during the period. Finally, Oxinas Partners Wealth Management LLC purchased a new stake in AppLovin in the fourth quarter valued at $1,081,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. The Goldman Sachs Group lifted their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Stock Up 8.2 %

Shares of AppLovin stock opened at $339.72 on Tuesday. 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 Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a market capitalization of $115.49 billion, a P/E ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a 50 day moving average of $354.31 and a 200 day moving average of $278.37.

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

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

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.