Beacon Harbor Wealth Advisors Inc. Sells 7,800 Shares of AppLovin Corporation $APP

Key Points

• Beacon Harbor trimmed its stake in AppLovin by 39.4% in Q4, selling 7,800 shares and now holds 12,017 shares worth about $8.10 million, equal to 1.8% of its portfolio (its 19th largest position).
• There was heavy trading activity: insiders sold 365,244 shares (~$169.6M) in the quarter (including the CEO and CTO), while major institutions like Vanguard and State Street materially increased positions, leaving roughly 41.85% institutional and 13.66% insider ownership.
• Analysts show a Moderate Buy consensus with an average price target of $669.05; AppLovin recently beat quarterly EPS and revenue estimates, but the stock is trading below its 200‑day average and remains volatile within a $222–$745.61 52‑week range.

Beacon Harbor Wealth Advisors Inc. trimmed its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 39.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,017 shares of the company's stock after selling 7,800 shares during the quarter. AppLovin makes up 1.8% of Beacon Harbor Wealth Advisors Inc.'s investment portfolio, making the stock its 19th largest position. Beacon Harbor Wealth Advisors Inc.'s holdings in AppLovin were worth $8,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of APP. Vanguard Group Inc. grew its position in AppLovin by 39.4% during the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company's stock worth $17,930,776,000 after acquiring an additional 7,051,663 shares during the last quarter. State Street Corp grew its position in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company's stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in AppLovin during the 3rd quarter worth approximately $1,456,108,000. Jennison Associates LLC grew its position in AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company's stock worth $2,792,355,000 after acquiring an additional 1,381,970 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in AppLovin during the 3rd quarter worth approximately $743,899,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APP has been the topic of a number of recent analyst reports. Wedbush lifted their price objective on AppLovin from $465.00 to $640.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Needham & Company LLC reiterated a "buy" rating and issued a $700.00 price objective on shares of AppLovin in a research report on Wednesday, March 11th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Weiss Ratings lowered AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Finally, Morgan Stanley set a $720.00 price objective on AppLovin in a research report on Thursday, February 12th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $669.05.

AppLovin Trading Up 3.2%

APP opened at $391.45 on Friday. The stock has a market cap of $132.03 billion, a PE ratio of 40.15, a PEG ratio of 0.68 and a beta of 2.50. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The business has a 50 day moving average of $426.55 and a 200-day moving average of $554.45. AppLovin Corporation has a 52 week low of $222.02 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm's revenue for the quarter was up 66.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. Equities research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares of the company's stock, valued at approximately $1,583,462,445.39. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 in the last quarter. 13.66% of the stock is owned by company insiders.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.