Optimist Retirement Group LLC Sells 1,404 Shares of AppLovin Co. (NASDAQ:APP)

Optimist Retirement Group LLC decreased its position in shares of AppLovin Co. (NASDAQ:APP) by 64.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 771 shares of the company’s stock after selling 1,404 shares during the quarter. Optimist Retirement Group LLC’s holdings in AppLovin were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in AppLovin during the 3rd quarter valued at $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the third quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the 3rd quarter valued at about $29,000. Finally, Fifth Third Bancorp boosted its stake in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. UBS Group raised their price objective on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Bank of America upped their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Benchmark assumed coverage on shares of AppLovin in a research report on Friday, January 10th. They set a “buy” rating and a $375.00 price target on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $366.29.

Insider Buying and Selling at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

AppLovin Price Performance

NASDAQ APP opened at $368.27 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $123.59 billion, a PE ratio of 111.60, a price-to-earnings-growth ratio of 3.00 and a beta of 2.30. AppLovin Co. has a 52 week low of $45.08 and a 52 week high of $417.64. The firm’s 50-day simple moving average is $344.30 and its two-hundred day simple moving average is $214.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $0.30 EPS. AppLovin’s revenue was up 38.6% compared to the same quarter last year. Research analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

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.