Janney Montgomery Scott LLC Sells 12,750 Shares of AppLovin Co. (NASDAQ:APP)

Janney Montgomery Scott LLC decreased its position in AppLovin Co. (NASDAQ:APP) by 24.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,464 shares of the company’s stock after selling 12,750 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AppLovin were worth $12,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of APP. FMR LLC grew its position in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. WCM Investment Management LLC raised its holdings in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Janus Henderson Group PLC grew its holdings in AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after acquiring an additional 560,560 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The shares were 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 621,209 shares in the company, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP opened at $363.10 on Monday. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64. The stock has a 50-day moving average price of $337.41 and a 200-day moving average price of $199.22. The firm has a market cap of $121.85 billion, a PE ratio of 110.03, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Sell-side analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on APP shares. Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company raised their price target on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup boosted their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Benchmark initiated coverage on shares of AppLovin in a research report on Friday, January 10th. They issued a “buy” rating and a $375.00 target price for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.41.

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.