AppLovin Co. (NASDAQ:APP) is Robertson Stephens Wealth Management LLC's 4th Largest Position

Robertson Stephens Wealth Management LLC decreased its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 403,061 shares of the company's stock after selling 7,374 shares during the quarter. AppLovin comprises 3.7% of Robertson Stephens Wealth Management LLC's investment portfolio, making the stock its 4th largest holding. Robertson Stephens Wealth Management LLC owned 0.12% of AppLovin worth $106,799,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APP. JFS Wealth Advisors LLC lifted its holdings in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after buying an additional 29 shares during the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC increased its stake in shares of AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after acquiring an additional 33 shares during the last quarter. Forum Financial Management LP increased its stake in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after purchasing an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in AppLovin by 0.7% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,700 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total value of $12,318,698.00. Following the transaction, the chief executive officer now owns 2,760,363 shares in the company, valued at $1,009,023,091.02. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director now owns 221,209 shares in the company, valued at $82,867,103.49. The trade was a 64.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock valued at $455,062,980 over the last ninety days. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Performance

APP opened at $370.68 on Tuesday. The firm has a market cap of $125.43 billion, a P/E ratio of 81.65, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. 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 is $327.00 and its 200-day moving average is $334.46.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on APP. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Wednesday, May 28th. Loop Capital reaffirmed a "buy" rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. UBS Group upped their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Oppenheimer restated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Finally, Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $438.10.

AppLovin Company 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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