Blue Trust Inc. Trims Stock Position in AppLovin Co. (NASDAQ:APP)

Blue Trust Inc. cut its position in AppLovin Co. (NASDAQ:APP) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,301 shares of the company’s stock after selling 55 shares during the quarter. Blue Trust Inc.’s holdings in AppLovin were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin in the third quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin in the 4th quarter worth about $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Finally, Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the third quarter worth about $29,000. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

APP stock opened at $510.13 on Friday. The stock has a market capitalization of $171.19 billion, a price-to-earnings ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30. The firm’s 50-day moving average price is $351.33 and its two-hundred day moving average price is $230.42. 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 12-month low of $52.75 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, equities analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent analyst reports. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler raised their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $422.18.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last quarter. 14.69% of the stock is owned by corporate 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.