Kestra Private Wealth Services LLC Sells 2,534 Shares of AppLovin Co. (NASDAQ:APP)

Kestra Private Wealth Services LLC lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,436 shares of the company’s stock after selling 2,534 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in AppLovin were worth $6,618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. Jennison Associates LLC acquired a new stake in AppLovin during the 4th quarter worth approximately $414,462,000. WCM Investment Management LLC lifted its stake in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after buying an additional 560,560 shares during the period. Finally, Eagle Asset Management Inc. raised its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after buying an additional 500,407 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. Jefferies Financial Group raised their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group upped their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Citigroup boosted their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. lifted their price target on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Four 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

AppLovin Trading Down 1.3 %

Shares of AppLovin stock opened at $375.72 on Monday. AppLovin Co. has a 52-week low of $45.12 and a 52-week high of $417.64. The stock has a market cap of $126.09 billion, a PE ratio of 113.85, a PEG ratio of 3.10 and a beta of 2.30. The firm has a 50-day moving average of $346.12 and a 200-day moving average of $219.26. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction on 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 completion of the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin 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.