GC Wealth Management RIA LLC Sells 790 Shares of AppLovin Co. (NASDAQ:APP)

GC Wealth Management RIA LLC lowered its holdings in shares of AppLovin Co. (NASDAQ:APP) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,150 shares of the company’s stock after selling 790 shares during the period. GC Wealth Management RIA LLC’s holdings in AppLovin were worth $1,344,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. S&CO Inc. bought a new position in shares of AppLovin in the fourth quarter worth approximately $218,000. Independent Advisor Alliance bought a new position in shares of AppLovin in the fourth quarter worth approximately $518,000. Daiwa Securities Group Inc. lifted its stake in shares of AppLovin by 2.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 83,633 shares of the company’s stock worth $27,082,000 after buying an additional 2,327 shares in the last quarter. Argentarii LLC bought a new position in shares of AppLovin in the fourth quarter worth approximately $841,000. Finally, Amundi lifted its stake in shares of AppLovin by 67.1% in the fourth quarter. Amundi now owns 603,766 shares of the company’s stock worth $198,760,000 after buying an additional 242,539 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 12.0 %

Shares of APP stock opened at $238.08 on Tuesday. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15. The stock has a market cap of $80.94 billion, a P/E ratio of 52.44, a P/E/G ratio of 3.02 and a beta of 2.33. 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 company has a 50 day simple moving average of $361.89 and a two-hundred day simple moving average of $264.02.

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

Wall Street Analyst Weigh In

APP has been the topic of several analyst reports. Loop Capital upped their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. Piper Sandler upped their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Bank of America boosted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Benchmark boosted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insider Activity

In other news, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin 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 completion of the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,371 shares of company stock worth $139,793,507 in the last three months. Company insiders own 14.69% of the company’s stock.

About AppLovin

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.