B. Riley Wealth Advisors Inc. Has $1.31 Million Stake in AppLovin Co. (NASDAQ:APP)

B. Riley Wealth Advisors Inc. decreased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,059 shares of the company's stock after selling 2,332 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in AppLovin were worth $1,314,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new position in AppLovin during the 4th quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co lifted its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management boosted its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Piper Sandler boosted their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Loop Capital restated a "buy" rating and issued a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $433.85.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This trade represents a 24.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 33,700 shares of the company'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 completion of the transaction, the chief executive officer now owns 2,760,363 shares of the company's stock, valued at $1,009,023,091.02. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,315,754 shares of company stock worth $476,095,970 in the last 90 days. 14.69% of the stock is owned by company insiders.

AppLovin Stock Performance

AppLovin stock traded down $6.03 during trading hours on Thursday, reaching $384.23. 5,132,294 shares of the company were exchanged, compared to its average volume of 6,061,041. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The firm has a market cap of $130.02 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a 50-day moving average of $296.79 and a 200 day moving average of $327.05.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion during 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%. AppLovin's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. As a group, research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current 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.