Jacobson & Schmitt Advisors LLC Has $16.29 Million Stake in AppLovin Co. (NASDAQ:APP)

Jacobson & Schmitt Advisors LLC cut its stake in AppLovin Co. (NASDAQ:APP) by 31.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,309 shares of the company’s stock after selling 23,529 shares during the quarter. AppLovin accounts for about 3.1% of Jacobson & Schmitt Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Jacobson & Schmitt Advisors LLC’s holdings in AppLovin were worth $16,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the third quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new stake in AppLovin during the fourth quarter valued at approximately $25,000. DT Investment Partners LLC bought a new stake in AppLovin during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin during the third quarter valued at approximately $27,000. Finally, Raleigh Capital Management Inc. bought a new stake in AppLovin during the third quarter valued at approximately $29,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APP. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 price target (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. BTIG Research lifted their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Citigroup boosted their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $430.41.

Insider Activity

In related news, CFO Matthew Stumpf sold 21,101 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This trade represents a 9.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the transaction, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,403 shares of company stock valued at $72,325,024. 14.69% of the stock is currently owned by company insiders.

AppLovin Trading Down 0.4 %

Shares of APP opened at $494.17 on Thursday. AppLovin Co. has a twelve month low of $54.50 and a twelve month high of $525.15. The company has a market cap of $165.84 billion, a P/E ratio of 108.85, a P/E/G ratio of 3.84 and a beta of 2.30. 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’s fifty day simple moving average is $361.30 and its 200-day simple moving average is $239.37.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. As a group, analysts expect that AppLovin Co. will post 6.64 EPS for the current year.

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.