AppLovin Co. (NASDAQ:APP) Shares Sold by Watts Gwilliam & Co. LLC

Watts Gwilliam & Co. LLC trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 91.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,123 shares of the company’s stock after selling 32,490 shares during the period. Watts Gwilliam & Co. LLC’s holdings in AppLovin were worth $1,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. Fred Alger Management LLC acquired a new stake in AppLovin during the 2nd quarter valued at approximately $290,655,000. 1832 Asset Management L.P. increased its holdings in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC raised its position in shares of AppLovin by 10.5% in 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 purchasing an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake 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 valued at $306,897,000 after buying an additional 560,560 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $329.20 on Friday. The company has a 50-day moving average price of $315.31 and a two-hundred day moving average price of $178.09. The stock has a market cap of $110.48 billion, a price-to-earnings ratio of 99.76, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $38.60 and a 52 week high of $417.64.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. Analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Insider Activity at AppLovin

In related news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on APP. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Piper Sandler initiated coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price for the company. Loop Capital increased their price target 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. Bank of America boosted their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Benchmark reaffirmed a “sell” rating and set a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $312.18.

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.