AppLovin Co. (NASDAQ:APP) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners decreased its position in AppLovin Co. (NASDAQ:APP - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,372 shares of the company's stock after selling 1,446 shares during the quarter. AppLovin accounts for approximately 1.1% of Balboa Wealth Partners' holdings, making the stock its 15th largest position. Balboa Wealth Partners' holdings in AppLovin were worth $4,978,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in APP. FMR LLC grew its position in shares of AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company's stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter worth approximately $1,781,922,000. Baillie Gifford & Co. grew its position in shares of AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of AppLovin in the 4th quarter worth approximately $535,070,000. Finally, Jennison Associates LLC acquired a new position in shares of AppLovin in the 4th quarter worth approximately $414,462,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Transactions 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 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 directly owns 372,205 shares of the company's stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value 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 disclosure for this sale can be found here. Insiders have sold 322,871 shares of company stock valued at $111,401,882 over the last three months. Company insiders own 14.69% of the company's stock.

AppLovin Stock Up 5.8 %

APP opened at $272.59 on Thursday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock's fifty day moving average is $359.55 and its 200-day moving average is $265.25. The company has a market capitalization of $92.67 billion, a PE ratio of 60.04, a P/E/G ratio of 3.02 and a beta of 2.33.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APP shares. Loop Capital boosted their price objective on AppLovin from $450.00 to $650.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. The Goldman Sachs Group boosted their price objective on AppLovin from $220.00 to $335.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Bank of America boosted their price objective on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. UBS Group boosted their price objective on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, Macquarie boosted their price objective on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given 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 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.

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