Segment Wealth Management LLC Has $5.17 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Segment Wealth Management LLC decreased its holdings in AppLovin Co. (NASDAQ:APP) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,975 shares of the company’s stock after selling 516 shares during the period. Segment Wealth Management LLC’s holdings in AppLovin were worth $5,173,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin in the third quarter valued at approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of AppLovin during the second quarter worth $34,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on APP shares. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective on the stock. Stifel Nicolaus upped their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company upped their price target 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. Loop Capital lifted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $338.06.

AppLovin Price Performance

AppLovin stock opened at $342.34 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s 50 day simple moving average is $331.86 and its 200 day simple moving average is $191.58. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The company has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction 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 $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 over the last quarter. 14.69% of the stock is currently owned by company insiders.

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.