Wealth Enhancement Advisory Services LLC Purchases 2,793 Shares of AppLovin Co. (NASDAQ:APP)

Wealth Enhancement Advisory Services LLC raised its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,925 shares of the company's stock after purchasing an additional 2,793 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in AppLovin were worth $34,302,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. NorthCrest Asset Manangement LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at approximately $283,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of AppLovin during the 4th quarter valued at approximately $21,804,000. Centaurus Financial Inc. raised its position in shares of AppLovin by 3.7% during the 4th quarter. Centaurus Financial Inc. now owns 27,601 shares of the company's stock valued at $8,938,000 after acquiring an additional 997 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at approximately $889,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at approximately $112,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of AppLovin stock traded down $3.35 during midday trading on Friday, hitting $380.88. 7,834,410 shares of the company were exchanged, compared to its average volume of 6,091,772. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $128.88 billion, a P/E ratio of 83.89, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The firm has a 50 day simple moving average of $298.37 and a 200-day simple moving average of $328.36.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results 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. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm's quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 earnings per share. Research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

APP has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price objective on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday. Piper Sandler upped their price objective on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Wednesday. Finally, Oppenheimer restated an "outperform" rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $433.85.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 570 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total transaction of $211,538.40. Following the transaction, the director now owns 6,231 shares in the company, valued at approximately $2,312,448.72. This trade represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $2,437,964.55. Following the sale, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,115,754 shares of company stock valued at $411,165,970 over the last three months. Company insiders own 14.69% of the company's stock.

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.