Personal CFO Solutions LLC Cuts Stock Position in AppLovin Co. (NASDAQ:APP)

Personal CFO Solutions LLC trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 23.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,228 shares of the company’s stock after selling 669 shares during the quarter. Personal CFO Solutions LLC’s holdings in AppLovin were worth $722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. SVB Wealth LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $1,781,922,000. Baillie Gifford & Co. lifted its holdings in shares of AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth $535,070,000. Finally, Jennison Associates LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $414,462,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 406,047 shares of company stock worth $140,390,817 over the last ninety days. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on APP shares. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. The Goldman Sachs Group increased their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. UBS Group increased their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Bank of America raised their price target on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $452.29.

AppLovin Stock Performance

AppLovin stock opened at $270.48 on Monday. 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 50 day moving average of $363.84 and a 200-day moving average of $262.97. The stock has a market cap of $90.77 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52 week low of $59.30 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.