AppLovin Co. (NASDAQ:APP) Stock Holdings Decreased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its position in AppLovin Co. (NASDAQ:APP - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,959 shares of the company's stock after selling 735 shares during the period. SeaCrest Wealth Management LLC's holdings in AppLovin were worth $519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APP. FMR LLC grew its position in AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC purchased a new position in AppLovin during the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. grew its position in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Norges Bank purchased a new position in AppLovin during the fourth quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership grew its position in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, 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 of the company's stock, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the transaction, the director now directly owns 3,451 shares in the company, valued at $1,450,455.30. This trade represents a 12.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,228,968 shares of company stock worth $458,718,165. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on APP shares. Piper Sandler boosted their price objective on shares of AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Wednesday, May 28th. Wells Fargo & Company lifted 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, FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. One 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 data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and an average target price of $436.10.

AppLovin Price Performance

Shares of AppLovin stock opened at $417.89 on Friday. The firm has a fifty day simple moving average of $311.16 and a 200-day simple moving average of $332.34. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The stock has a market capitalization of $141.41 billion, a price-to-earnings ratio of 92.05, a PEG ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data 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. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the company earned $0.67 earnings per share. AppLovin's revenue for the quarter was up 40.3% on a year-over-year basis. On average, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share 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.

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