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

Apollon Wealth Management LLC trimmed its position in AppLovin Co. (NASDAQ:APP) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,068 shares of the company’s stock after selling 233 shares during the period. Apollon Wealth Management LLC’s holdings in AppLovin were worth $994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APP. FMR LLC grew its position in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. Jennison Associates LLC purchased a new position in AppLovin in the 4th quarter valued at $414,462,000. WCM Investment Management LLC boosted its position in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated 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 represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 828,991 shares of company stock valued at $267,640,144. 14.69% of the stock is owned by insiders.

AppLovin Trading Down 2.4 %

Shares of APP stock opened at $375.25 on Wednesday. The firm has a 50-day moving average price of $347.17 and a 200 day moving average price of $223.52. AppLovin Co. has a twelve month low of $45.12 and a twelve month high of $417.64. The company has a market capitalization of $125.93 billion, a price-to-earnings ratio of 113.71, a PEG ratio of 3.10 and a beta of 2.30. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on APP shares. Loop Capital boosted their target price on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Piper Sandler started coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

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.