Friedenthal Financial Trims Position in AppLovin Co. (NASDAQ:APP)

Friedenthal Financial trimmed its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 58.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,429 shares of the company's stock after selling 3,481 shares during the period. Friedenthal Financial's holdings in AppLovin were worth $787,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin in the third quarter worth about $29,000. Finally, Quest Partners LLC acquired a new position in AppLovin during the second quarter worth about $33,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on APP shares. Daiwa America raised AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Wedbush reissued an "outperform" rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Bank of America raised their price objective on shares of AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Citigroup boosted their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, Daiwa Capital Markets raised shares of AppLovin from a "neutral" rating to an "outperform" rating and increased their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $338.06.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the firm's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares of the company's stock, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $5,000,040.97. Following the completion of the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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

AppLovin stock traded down $2.80 during midday trading on Monday, reaching $315.68. The company's stock had a trading volume of 3,798,446 shares, compared to its average volume of 4,541,942. The firm has a market capitalization of $105.94 billion, a PE ratio of 95.66, a P/E/G ratio of 4.17 and a beta of 2.29. AppLovin Co. has a fifty-two week low of $39.43 and a fifty-two week high of $417.64. The stock's 50 day simple moving average is $321.54 and its 200 day simple moving average is $182.80. 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 (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm's revenue was up 38.6% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current 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.