Cetera Investment Advisers Has $11 Million Holdings in AppLovin Co. (NASDAQ:APP)

Cetera Investment Advisers lessened its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,966 shares of the company's stock after selling 4,403 shares during the quarter. Cetera Investment Advisers' holdings in AppLovin were worth $10,999,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new position in AppLovin in the 4th quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co raised its holdings in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new position in AppLovin in the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management raised its holdings 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 acquiring an additional 40 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APP. UBS Group increased their target price on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Wells Fargo & Company increased their target price on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, HSBC set a $436.00 price target on AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Trading Up 0.8%

APP stock traded up $3.09 during midday trading on Wednesday, hitting $373.19. 3,766,099 shares of the company's stock were exchanged, compared to its average volume of 8,131,940. The stock's fifty day moving average price is $278.36 and its 200-day moving average price is $314.35. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $126.87 billion, a PE ratio of 82.20, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a one year low of $60.67 and a one 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 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share. Research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated 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 sale, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 over the last three months. Corporate insiders own 14.69% of the company's stock.

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.