Mount Yale Investment Advisors LLC Reduces Holdings in AppLovin Co. (NASDAQ:APP)

Mount Yale Investment Advisors LLC lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 39.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,685 shares of the company’s stock after selling 7,625 shares during the period. Mount Yale Investment Advisors LLC’s holdings in AppLovin were worth $3,784,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in AppLovin by 8.3% in the fourth quarter. Pacer Advisors Inc. now owns 68,133 shares of the company’s stock worth $22,064,000 after purchasing an additional 5,200 shares during the period. Blue Trust Inc. boosted its holdings in shares of AppLovin by 49.3% during the 4th quarter. Blue Trust Inc. now owns 6,502 shares of the company’s stock valued at $2,106,000 after buying an additional 2,146 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of AppLovin in the 4th quarter worth about $513,000. Drive Wealth Management LLC bought a new position in shares of AppLovin in the 4th quarter worth about $256,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in AppLovin during the 4th quarter valued at about $411,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 0.2 %

Shares of AppLovin stock opened at $363.10 on Monday. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company’s 50 day moving average is $337.41 and its 200 day moving average is $199.22. The company has a market cap of $121.85 billion, a price-to-earnings ratio of 110.03, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. Research analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APP. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Bank of America upped their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. UBS Group increased their target price on AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.41.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by company 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.