Oxinas Partners Wealth Management LLC Reduces Holdings in AppLovin Co. (NASDAQ:APP)

Oxinas Partners Wealth Management LLC cut its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 22.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,585 shares of the company's stock after selling 754 shares during the period. Oxinas Partners Wealth Management LLC's holdings in AppLovin were worth $685,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APP. GHP Investment Advisors Inc. acquired a new position in AppLovin in the fourth quarter valued at $25,000. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the 4th quarter worth approximately $25,000. Riverview Trust Co grew its stake in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $28,000. Finally, Hemington Wealth Management raised its stake in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on APP. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. UBS Group raised their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Loop Capital reaffirmed a "buy" rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. Finally, Piper Sandler upped their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $436.10.

AppLovin Trading Down 0.6%

NASDAQ APP opened at $414.11 on Friday. The stock has a market cap of $140.13 billion, a P/E ratio of 91.21, a PEG ratio of 3.02 and a beta of 2.53. The company's fifty day simple moving average is $308.46 and its 200-day simple moving average is $331.62. 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 52 week low of $60.67 and a 52 week high of $525.15.

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

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the sale, the insider now owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. In the last ninety days, insiders have sold 1,115,754 shares of company stock valued at $411,165,970. Corporate 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.

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