Smartleaf Asset Management LLC Sells 686 Shares of AppLovin Co. (NASDAQ:APP)

Smartleaf Asset Management LLC trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,445 shares of the company’s stock after selling 686 shares during the quarter. Smartleaf Asset Management LLC’s holdings in AppLovin were worth $820,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of APP. Capital Performance Advisors LLP bought a new position in AppLovin during the third quarter worth about $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin during the fourth quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in AppLovin during the third quarter worth about $27,000. Hemington Wealth Management increased its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the period. Finally, Fifth Third Bancorp increased its position in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Trading Up 3.6 %

APP opened at $337.34 on Tuesday. The company’s 50 day moving average is $367.64 and its 200-day moving average is $257.15. AppLovin Co. has a 1-year low of $59.30 and a 1-year 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. The company has a market cap of $113.21 billion, a P/E ratio of 74.30, a PEG ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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 predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The shares were 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 in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,947 shares of company stock worth $75,810,416 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on APP. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Loop Capital raised their target price on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus raised their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $452.29.

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.