Second Half Financial Partners LLC Sells 1,029 Shares of AppLovin Co. (NASDAQ:APP)

Second Half Financial Partners LLC decreased its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 59.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 688 shares of the company's stock after selling 1,029 shares during the period. Second Half Financial Partners LLC's holdings in AppLovin were worth $223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter worth $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the 4th quarter worth $25,000. Riverview Trust Co boosted its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management boosted its holdings in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APP. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Citigroup raised their target price on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Loop Capital reaffirmed a "buy" rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. HSBC set a $436.00 target price on AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Piper Sandler lowered their target price on AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned 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 price target of $415.15.

AppLovin Price Performance

Shares of NASDAQ:APP traded up $3.90 during trading on Tuesday, reaching $288.88. The company had a trading volume of 4,785,642 shares, compared to its average volume of 5,890,350. The company has a fifty day moving average of $286.98 and a two-hundred day moving average of $303.11. The stock has a market capitalization of $98.21 billion, a P/E ratio of 63.63, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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%. Equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated 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 directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 in the last quarter. Company insiders own 14.69% of the company's stock.

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.