SVB Wealth LLC Decreases Stock Position in AppLovin Co. (NASDAQ:APP)

SVB Wealth LLC decreased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,018,096 shares of the company's stock after selling 770,524 shares during the period. AppLovin accounts for about 6.8% of SVB Wealth LLC's investment portfolio, making the stock its largest position. SVB Wealth LLC owned about 2.09% of AppLovin worth $279,671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BluePath Capital Management LLC purchased a new stake in shares of AppLovin during the third quarter valued at $33,000. Tower Research Capital LLC TRC boosted its stake in shares of AppLovin by 86.1% during the third quarter. Tower Research Capital LLC TRC now owns 927 shares of the company's stock valued at $37,000 after purchasing an additional 429 shares during the period. Castleview Partners LLC purchased a new stake in shares of AppLovin during the third quarter valued at $38,000. JPMorgan Chase & Co. boosted its stake in shares of AppLovin by 99.0% during the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company's stock valued at $54,000 after purchasing an additional 488 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of AppLovin during the third quarter valued at $44,000. Institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

APP has been the subject of several recent research reports. Oppenheimer lifted their price objective on AppLovin from $70.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, April 8th. Wedbush upped their target price on AppLovin from $67.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday. TheStreet raised shares of AppLovin from a "d+" rating to a "c-" rating in a research note on Friday, March 8th. The Goldman Sachs Group raised their price objective on shares of AppLovin from $59.00 to $73.00 and gave the stock a "buy" rating in a research note on Thursday, February 15th. Finally, HSBC assumed coverage on shares of AppLovin in a research note on Monday, December 18th. They issued a "buy" rating and a $53.20 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.75.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares in the company, valued at approximately $31,569,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now owns 546,560 shares in the company, valued at $31,569,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares in the company, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock worth $4,416,815 in the last three months. 12.43% of the stock is currently owned by insiders.

AppLovin Stock Performance

AppLovin stock traded down $4.14 during mid-day trading on Monday, hitting $71.43. 4,104,700 shares of the company's stock traded hands, compared to its average volume of 4,183,284. The firm has a 50 day moving average price of $63.41 and a 200 day moving average price of $48.21. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The company has a market cap of $24.43 billion, a PE ratio of 71.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.90. AppLovin Co. has a one year low of $15.41 and a one year high of $79.55.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. During the same quarter in the previous year, the business earned ($0.21) EPS. The firm's revenue for the quarter was up 35.7% on a year-over-year basis. On average, equities analysts forecast that AppLovin Co. will post 2.47 EPS for the current year.

About AppLovin

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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