EverSource Wealth Advisors LLC Trims Stock Position in AppLovin Co. (NASDAQ:APP)

EverSource Wealth Advisors LLC trimmed its stake in AppLovin Co. (NASDAQ:APP) by 51.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 454 shares of the company’s stock after selling 475 shares during the period. EverSource Wealth Advisors LLC’s holdings in AppLovin were worth $147,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its holdings in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after buying an additional 29 shares during the period. National Bank of Canada FI raised its position in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Versant Capital Management Inc lifted its stake in shares of AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its position in shares of AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Oppenheimer reissued an “outperform” rating and set a $560.00 price target (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Bank of America upped their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Stock Up 4.8 %

Shares of AppLovin stock opened at $306.85 on Tuesday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a market cap of $104.32 billion, a price-to-earnings ratio of 67.59, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company’s 50 day moving average is $356.03 and its 200 day moving average is $270.72.

AppLovin (NASDAQ:APP) last released its quarterly 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 return on equity of 188.55% and a net margin of 33.54%. Research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 322,871 shares of company stock worth $111,401,882 in the last three months. 14.69% of the stock is currently owned by company insiders.

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.