AppLovin Co. (NASDAQ:APP) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC lowered its position in AppLovin Co. (NASDAQ:APP) by 5.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,197 shares of the company’s stock after selling 137 shares during the period. Simplicity Wealth LLC’s holdings in AppLovin were worth $711,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC grew its holdings in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. FMR LLC grew its holdings in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. SVB Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at about $1,781,922,000. State Street Corp grew its holdings in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APP shares. Arete Research raised shares of AppLovin to a “strong sell” rating in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group increased their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Oppenheimer reissued an “outperform” rating and issued a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Stock Performance

Shares of APP opened at $270.48 on Monday. 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 firm has a market cap of $90.77 billion, a PE ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company’s 50 day simple moving average is $363.84 and its 200-day simple moving average is $262.97. AppLovin Co. has a 12-month low of $59.30 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 406,047 shares of company stock worth $140,390,817 in the last three months. 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.