EP Wealth Advisors LLC Has $3.09 Million Holdings in AppLovin Co. (NASDAQ:APP)

EP Wealth Advisors LLC decreased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 28.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,545 shares of the company's stock after selling 3,868 shares during the period. EP Wealth Advisors LLC's holdings in AppLovin were worth $3,091,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Concentric Capital Strategies LP acquired a new stake in AppLovin in the 4th quarter worth $2,168,000. Castle Hook Partners LP acquired a new stake in AppLovin during the fourth quarter worth about $205,192,000. BOKF NA increased its stake in AppLovin by 22.3% during the fourth quarter. BOKF NA now owns 9,223 shares of the company's stock valued at $2,937,000 after acquiring an additional 1,680 shares during the period. Brevan Howard Capital Management LP acquired a new position in AppLovin in the 4th quarter valued at approximately $12,824,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of AppLovin in the 4th quarter worth approximately $6,153,000. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Up 11.9 %

Shares of APP opened at $339.51 on Friday. The firm has a market capitalization of $115.42 billion, a price-to-earnings ratio of 74.78, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. 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 business's fifty day moving average price is $275.52 and its two-hundred day moving average price is $309.36.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $0.67 earnings per share. The company's revenue was up 40.3% on a year-over-year basis. On average, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the company's 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 completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin 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 transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on APP shares. UBS Group boosted their price objective on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a research note on Thursday. Oppenheimer reiterated an "outperform" rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a research report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Finally, Citigroup raised their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $428.85.

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.

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