AppLovin Co. (NASDAQ:APP) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. lowered its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 56.2% during the 4th quarter, according to the company in its most recent 13F filing with the 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 quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in APP. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin during the 4th quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new position in AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co lifted its position in AppLovin by 1,640.0% during 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 during the period. Tucker Asset Management LLC purchased a new position in AppLovin during the 4th quarter valued at about $28,000. Finally, Hemington Wealth Management raised its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APP. UBS Group lifted their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Citigroup boosted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Loop Capital reissued a "buy" rating and set a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Finally, Benchmark reissued a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $433.85.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 100,000 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the completion of the sale, the chief executive officer now owns 2,760,363 shares of the company's stock, valued at approximately $1,014,461,006.13. The trade was a 3.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 6,585 shares of the business's 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 completion of the sale, the insider now directly owns 357,903 shares of the company's stock, valued at approximately $132,506,427.69. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,233,254 shares of company stock valued at $446,927,149 over the last 90 days. 14.69% of the stock is owned by corporate insiders.

AppLovin Price Performance

Shares of APP traded up $26.62 during mid-day trading on Tuesday, reaching $380.91. The stock had a trading volume of 7,674,411 shares, compared to its average volume of 6,062,345. The firm has a market cap of $128.89 billion, a price-to-earnings ratio of 83.90, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The business has a fifty day moving average of $293.78 and a 200 day moving average of $326.23. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

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.