Aptus Capital Advisors LLC Sells 6,401 Shares of AppLovin Co. (NASDAQ:APP)

Aptus Capital Advisors LLC lowered its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,077 shares of the company's stock after selling 6,401 shares during the quarter. Aptus Capital Advisors LLC's holdings in AppLovin were worth $8,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the 4th quarter valued at $25,000. Riverview Trust Co lifted its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new position in shares of AppLovin in the fourth quarter worth $28,000. Finally, Hemington Wealth Management grew its position in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on APP shares. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley raised shares of AppLovin from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. Benchmark raised their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, HSBC set a $436.00 price target on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $415.15.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $307.58 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $104.56 billion, a PE ratio of 67.75, a PEG ratio of 3.02 and a beta of 2.39. The company's fifty day moving average is $276.82 and its 200 day moving average is $305.94. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released 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%. Research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

About AppLovin

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.

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