Quent Capital LLC Trims Stock Holdings in AppLovin Co. (NASDAQ:APP)

Quent Capital LLC decreased its holdings in AppLovin Co. (NASDAQ:APP) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 502 shares of the company’s stock after selling 65 shares during the period. Quent Capital LLC’s holdings in AppLovin were worth $163,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of AppLovin in the third quarter worth about $25,000. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter valued at approximately $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin during the third quarter valued at approximately $27,000. Finally, Raleigh Capital Management Inc. bought a new stake in AppLovin during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on 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 sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 828,991 shares of company stock valued at $267,640,144. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on APP shares. Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. BTIG Research lifted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Benchmark initiated coverage on shares of AppLovin in a research report on Friday, January 10th. They set a “buy” rating and a $375.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Finally, Piper Sandler initiated coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $366.29.

AppLovin Stock Up 1.4 %

Shares of NASDAQ APP opened at $380.32 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s fifty day moving average is $347.30 and its 200 day moving average is $224.62. The company has a market cap of $127.63 billion, a price-to-earnings ratio of 115.25, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 52 week low of $45.12 and a 52 week high of $417.64.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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 net margin of 26.85% and a return on equity of 122.24%. On average, equities research analysts expect that AppLovin Co. will post 4.09 earnings per share for the current 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.