Avantax Advisory Services Inc. Has $4.47 Million Stake in AppLovin Co. (NASDAQ:APP)

Avantax Advisory Services Inc. trimmed its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,806 shares of the company's stock after selling 2,800 shares during the period. Avantax Advisory Services Inc.'s holdings in AppLovin were worth $4,471,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of APP. Assetmark Inc. lifted its holdings in shares of AppLovin by 131.8% during the third quarter. Assetmark Inc. now owns 9,637 shares of the company's stock valued at $1,258,000 after purchasing an additional 5,480 shares during the last quarter. Atria Investments Inc purchased a new stake in AppLovin in the 3rd quarter worth about $574,000. Crossmark Global Holdings Inc. purchased a new stake in AppLovin in the 3rd quarter worth about $289,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in AppLovin by 37.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 498,534 shares of the company's stock worth $65,084,000 after acquiring an additional 134,645 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in AppLovin by 45.5% in the 3rd quarter. Victory Capital Management Inc. now owns 374,892 shares of the company's stock worth $48,942,000 after acquiring an additional 117,186 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 15,971 shares of AppLovin 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 sale, the insider now owns 372,205 shares of the company's stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % 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 valued at $111,401,882 in the last three months. Company insiders own 14.69% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on AppLovin from $325.00 to $475.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. 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 note on Monday, January 27th. Finally, Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an "overweight" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.28.

AppLovin Stock Performance

NASDAQ APP traded up $20.89 during trading on Friday, hitting $292.89. The company's stock had a trading volume of 10,053,786 shares, compared to its average volume of 5,187,542. 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 has a 50 day moving average price of $357.00 and a 200 day moving average price of $267.94. The firm has a market cap of $99.57 billion, a P/E ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.