RWA Wealth Partners LLC Has $3.56 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

RWA Wealth Partners LLC lowered its stake in shares of AppLovin Co. (NASDAQ:APP) by 23.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,997 shares of the company’s stock after selling 3,339 shares during the period. RWA Wealth Partners LLC’s holdings in AppLovin were worth $3,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of APP. Summit Securities Group LLC bought a new position in AppLovin during the fourth quarter valued at about $94,000. Arrowstreet Capital Limited Partnership raised its stake in shares of AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. Okabena Investment Services Inc. bought a new stake in AppLovin during the fourth quarter worth approximately $486,000. Tucker Asset Management LLC acquired a new position in AppLovin during the fourth quarter valued at approximately $28,000. Finally, OneAscent Wealth Management LLC bought a new position in shares of AppLovin in the fourth quarter valued at approximately $295,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were 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. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Up 4.1 %

Shares of NASDAQ APP opened at $272.38 on Monday. The firm’s 50-day moving average is $351.86 and its 200-day moving average is $284.38. 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 Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm has a market capitalization of $92.60 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last announced 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%. Equities analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APP. Benchmark upped their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Macquarie upped their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus lifted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Finally, Bank of America upped their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $435.47.

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.