Diversify Advisory Services LLC Decreases Stake in AppLovin Co. (NASDAQ:APP)

Diversify Advisory Services LLC cut its position in AppLovin Co. (NASDAQ:APP - Free Report) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,253 shares of the company's stock after selling 2,296 shares during the period. Diversify Advisory Services LLC's holdings in AppLovin were worth $4,221,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of APP. Dimensional Fund Advisors LP increased its holdings in AppLovin by 27.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company's stock worth $124,372,000 after buying an additional 322,563 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of AppLovin by 13.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,352 shares of the company's stock worth $933,000 after acquiring an additional 1,355 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of AppLovin during the second quarter worth $224,000. Amalgamated Bank raised its holdings in shares of AppLovin by 44.9% during the second quarter. Amalgamated Bank now owns 17,725 shares of the company's stock worth $1,475,000 after purchasing an additional 5,490 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in AppLovin by 95.1% during the second quarter. Intech Investment Management LLC now owns 22,779 shares of the company's stock valued at $1,896,000 after purchasing an additional 11,102 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by corporate insiders.

AppLovin Price Performance

Shares of NASDAQ:APP traded up $10.33 during trading on Monday, reaching $342.34. The stock had a trading volume of 4,173,415 shares, compared to its average volume of 3,899,418. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1-year low of $40.71 and a 1-year high of $417.64. The stock has a market cap of $114.89 billion, a PE ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The business has a fifty day moving average price of $330.75 and a 200-day moving average price of $189.78.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin's quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. On average, equities analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent research reports. Macquarie lifted their price objective on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Loop Capital upped their price objective on AppLovin from $385.00 to $450.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Wedbush reaffirmed an "outperform" rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Bank of America increased their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $338.06.

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.