Envestnet Portfolio Solutions Inc. Has $9.65 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Envestnet Portfolio Solutions Inc. decreased its position in AppLovin Co. (NASDAQ:APP) by 29.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,785 shares of the company’s stock after selling 12,452 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AppLovin were worth $9,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in APP. JFS Wealth Advisors LLC boosted its stake in AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the period. Truvestments Capital LLC boosted its stake in AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after purchasing an additional 38 shares during the period. National Bank of Canada FI boosted its stake in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the period. Hemington Wealth Management boosted its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Versant Capital Management Inc boosted its stake in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 4.8 %

AppLovin stock opened at $306.85 on Tuesday. The stock has a market cap of $104.32 billion, a P/E ratio of 67.59, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company’s 50-day moving average price is $356.03 and its two-hundred day moving average price is $270.72.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. As a group, analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $560.00 price target (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was 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 approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 322,871 shares of company stock worth $111,401,882 in the last quarter. Corporate 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.