AppLovin Co. (NASDAQ:APP) Shares Acquired by Ibex Wealth Advisors

Ibex Wealth Advisors lifted its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 44,087 shares of the company's stock after buying an additional 1,824 shares during the period. AppLovin accounts for approximately 1.5% of Ibex Wealth Advisors' portfolio, making the stock its 14th largest holding. Ibex Wealth Advisors' holdings in AppLovin were worth $11,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the 4th quarter valued at about $25,000. Riverview Trust Co boosted its position in shares of 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 acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the fourth quarter worth approximately $28,000. Hemington Wealth Management grew its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares during the period. Finally, Smithfield Trust Co acquired a new position in AppLovin during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Down 4.2%

NASDAQ:APP traded down $16.09 on Friday, reaching $364.49. The stock had a trading volume of 4,342,573 shares, compared to its average volume of 6,111,821. The company has a 50-day moving average of $324.29 and a 200 day moving average of $334.14. 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 market cap of $123.34 billion, a P/E ratio of 80.28, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley lifted their target price on AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a report on Monday. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Finally, Benchmark reaffirmed a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.10.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction that occurred 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 directly owns 357,903 shares in the company, valued at approximately $132,506,427.69. This represents a 1.81% 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 stock in a transaction that occurred on Tuesday, May 20th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,212,968 shares of company stock worth $455,062,980. Insiders own 14.69% of the company's stock.

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.