AppLovin Co. (NASDAQ:APP) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 21.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,783 shares of the company's stock after selling 39,428 shares during the quarter. Captrust Financial Advisors' holdings in AppLovin were worth $46,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its position in shares of AppLovin by 38.2% in 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 during the last quarter. HighPoint Advisor Group LLC lifted its stake in AppLovin by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after buying an additional 31 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after buying an additional 33 shares in the last quarter. Forum Financial Management LP increased its stake in AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after buying an additional 33 shares during the period. Finally, Truvestments Capital LLC boosted its stake in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock valued at $1,696,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on APP shares. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target on the stock. UBS Group boosted their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday. Oppenheimer restated an "outperform" rating and set a $500.00 target price (down previously from $560.00) on shares of AppLovin in a report on Thursday. Bank of America boosted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $428.85.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares of the company's stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last 90 days. Company insiders own 14.69% of the company's stock.

AppLovin Price Performance

Shares of AppLovin stock traded up $36.05 on Thursday, hitting $339.51. The company's stock had a trading volume of 14,344,061 shares, compared to its average volume of 6,022,047. The company has a market capitalization of $115.42 billion, a price-to-earnings ratio of 74.78, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm has a fifty day moving average price of $275.48 and a 200-day moving average price of $308.12. 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 Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $0.67 EPS. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.