Sunbelt Securities Inc. Decreases Stock Position in AppLovin Co. (NASDAQ:APP)

Sunbelt Securities Inc. decreased its position in AppLovin Co. (NASDAQ:APP - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 911 shares of the company's stock after selling 1,169 shares during the quarter. Sunbelt Securities Inc.'s holdings in AppLovin were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in APP. Barclays PLC grew its position in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after buying an additional 153,248 shares during the period. Chicago Capital LLC bought a new position in AppLovin during the fourth quarter valued at about $323,000. Merit Financial Group LLC bought a new position in AppLovin during the fourth quarter valued at about $306,000. Avior Wealth Management LLC grew its position in AppLovin by 54.7% during the fourth quarter. Avior Wealth Management LLC now owns 215 shares of the company's stock valued at $70,000 after buying an additional 76 shares during the period. Finally, Fifth Third Bancorp grew its position in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after buying an additional 62 shares during the period. Institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the sale, the insider now owns 357,903 shares in the company, valued at approximately $132,506,427.69. This represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,700 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,315,754 shares of company stock worth $476,095,970. 14.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on APP. Benchmark reaffirmed a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price target on the stock. HSBC set a $436.00 target price on shares of AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Stock Performance

Shares of AppLovin stock traded down $2.16 during trading hours on Thursday, reaching $388.10. 3,172,047 shares of the stock traded hands, compared to its average volume of 6,053,512. The company has a 50 day moving average price of $296.79 and a 200 day moving average price of $327.05. The firm has a market capitalization of $131.33 billion, a price-to-earnings ratio of 85.48, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm's revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. On average, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.