AppLovin Co. (NASDAQ:APP) Shares Sold by Continuum Advisory LLC

Continuum Advisory LLC reduced its position in AppLovin Co. (NASDAQ:APP) by 22.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 109 shares of the company’s stock after selling 32 shares during the quarter. Continuum Advisory LLC’s holdings in AppLovin were worth $35,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its position in AppLovin by 92.5% during the 3rd quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after purchasing an additional 153,248 shares during the period. Chicago Capital LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at approximately $323,000. Assenagon Asset Management S.A. acquired a new position in AppLovin during the fourth quarter worth $1,312,000. Merit Financial Group LLC purchased a new position in AppLovin in the fourth quarter worth $306,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after acquiring an additional 89 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APP shares. Benchmark restated a “buy” rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group upped their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. HSBC set a $436.00 target price on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Piper Sandler boosted their price target on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $433.85.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,277,654 shares of company stock valued at $465,170,665. 14.69% of the stock is owned by insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $354.29 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s fifty day moving average price is $292.64 and its two-hundred day moving average price is $324.15. The stock has a market cap of $119.89 billion, a PE ratio of 78.04, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 earnings per share. On average, analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal 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.