Moloney Securities Asset Management LLC Sells 1,127 Shares of AppLovin Co. (NASDAQ:APP)

Moloney Securities Asset Management LLC lowered its holdings in AppLovin Co. (NASDAQ:APP) by 47.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,268 shares of the company’s stock after selling 1,127 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in AppLovin were worth $411,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. D Orazio & Associates Inc. lifted its stake in shares of AppLovin by 9.7% during the 4th quarter. D Orazio & Associates Inc. now owns 1,766 shares of the company’s stock worth $572,000 after purchasing an additional 156 shares during the last quarter. Opinicus Capital Inc. bought a new position in AppLovin in the fourth quarter worth about $441,000. Lecap Asset Management Ltd. purchased a new stake in shares of AppLovin during the fourth quarter valued at about $1,300,000. SMART Wealth LLC bought a new stake in shares of AppLovin in the 4th quarter valued at about $402,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of AppLovin by 9.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,301 shares of the company’s stock worth $176,261,000 after buying an additional 45,767 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 2.3 %

Shares of AppLovin stock opened at $384.40 on Tuesday. AppLovin Co. has a 1 year low of $45.12 and a 1 year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $129.00 billion, a PE ratio of 116.49, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. The firm has a fifty day moving average price of $347.00 and a 200 day moving average price of $221.43.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This represents a 4.23 % 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 worth $267,640,144. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. BTIG Research increased their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler began coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. UBS Group increased their price target on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $366.29.

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.