Tradition Wealth Management LLC Trims Holdings in AppLovin Co. (NASDAQ:APP)

Tradition Wealth Management LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,531 shares of the company’s stock after selling 108 shares during the period. Tradition Wealth Management LLC’s holdings in AppLovin were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of APP. Barclays PLC boosted its position in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company’s stock valued at $41,643,000 after buying an additional 153,248 shares during the period. Invst LLC boosted its holdings in AppLovin by 23.2% in the third quarter. Invst LLC now owns 6,812 shares of the company’s stock valued at $889,000 after purchasing an additional 1,284 shares in the last quarter. Virtu Financial LLC purchased a new position in AppLovin in the third quarter valued at approximately $3,211,000. SOA Wealth Advisors LLC. purchased a new stake in shares of AppLovin during the 3rd quarter worth approximately $59,000. Finally, Pine Valley Investments Ltd Liability Co purchased a new position in shares of AppLovin in the 3rd quarter valued at $228,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on APP shares. Oppenheimer reiterated an “outperform” rating and set a $560.00 target price on shares of AppLovin in a research report on Thursday, March 27th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Bank of America lifted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Citigroup increased their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $424.84.

AppLovin Price Performance

APP stock opened at $238.22 on Monday. The stock’s 50 day moving average price is $313.27 and its 200 day moving average price is $298.29. The firm has a market cap of $80.98 billion, a P/E ratio of 52.47, a PEG ratio of 3.02 and a beta of 2.39. 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 $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $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 306,900 shares of company stock worth $106,401,841 over the last quarter. 14.69% of the stock is currently owned by insiders.

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.