Moloney Securities Asset Management LLC Decreases Holdings in AppLovin Co. (NASDAQ:APP)

Moloney Securities Asset Management LLC decreased its stake in AppLovin Co. (NASDAQ:APP) by 47.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of APP. WCM Investment Management LLC boosted its stake in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. FMR LLC lifted its stake in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. State Street Corp boosted its position in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Geode Capital Management LLC grew its stake in AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in AppLovin by 1.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock valued at $462,077,000 after acquiring an additional 46,854 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 NASDAQ APP opened at $384.40 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 stock has a market capitalization of $129.00 billion, a PE ratio of 116.49, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a twelve month low of $45.12 and a twelve month high of $417.64. The stock has a fifty day simple moving average of $347.00 and a 200-day simple moving average of $221.43.

Analyst Ratings Changes

APP has been the topic of several recent research reports. Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the firm’s 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 transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock worth $267,640,144 in the last three months. 14.69% of the stock is 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.