Annex Advisory Services LLC Trims Holdings in AppLovin Co. (NASDAQ:APP)

Annex Advisory Services LLC lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 30.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 168,069 shares of the company’s stock after selling 74,150 shares during the period. AppLovin accounts for 1.6% of Annex Advisory Services LLC’s investment portfolio, making the stock its 15th largest position. Annex Advisory Services LLC owned 0.05% of AppLovin worth $54,426,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Mandatum Life Insurance Co Ltd acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $431,000. Polianta Ltd acquired a new stake in AppLovin during the fourth quarter worth $1,198,000. Oak Ridge Investments LLC purchased a new stake in AppLovin in the fourth quarter valued at $5,772,000. Aaron Wealth Advisors LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $382,000. Finally, Moss Adams Wealth Advisors LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $277,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 3.1 %

Shares of NASDAQ:APP opened at $342.34 on Monday. AppLovin Co. has a 52 week low of $40.71 and a 52 week high of $417.64. The company’s 50 day moving average is $330.75 and its two-hundred day moving average is $189.78. The company has a market cap of $114.89 billion, a PE ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29. 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) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Equities analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Loop Capital upped their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Citigroup boosted their target price on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company raised their price target on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.06.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last 90 days. 14.69% of the stock is owned by insiders.

AppLovin Company 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.