Annex Advisory Services LLC Has $208,000 Holdings in AppLovin Co. (NASDAQ:APP)

Annex Advisory Services LLC trimmed its position in AppLovin Co. (NASDAQ:APP) by 99.5% in the first quarter, HoldingsChannel.com reports. The firm owned 786 shares of the company’s stock after selling 167,283 shares during the period. Annex Advisory Services LLC’s holdings in AppLovin were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of APP. JFS Wealth Advisors LLC lifted its stake in AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after buying an additional 31 shares during the period. Quadrant Capital Group LLC boosted its stake in AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after buying an additional 33 shares in the last quarter. Forum Financial Management LP grew its position in AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock valued at $1,223,000 after acquiring an additional 33 shares during the period. Finally, Truvestments Capital LLC grew its position in AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APP shares. Morgan Stanley lifted their price objective on AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target for the company. Piper Sandler upped their price objective on shares of AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Finally, UBS Group boosted their target price on AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $436.10.

AppLovin Price Performance

Shares of APP stock opened at $417.89 on Friday. The firm has a market cap of $141.41 billion, a price-to-earnings ratio of 92.05, a PEG ratio of 3.02 and a beta of 2.53. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. 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 stock has a 50-day moving average price of $311.16 and a 200 day moving average price of $332.29.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin’s revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 EPS. Research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,700 shares of AppLovin stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the transaction, the chief executive officer now owns 2,760,363 shares of the company’s stock, valued at $1,009,023,091.02. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Stumpf sold 9,714 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the sale, the chief financial officer now owns 192,421 shares of the company’s stock, valued at approximately $81,394,083. This represents a 4.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,228,968 shares of company stock valued at $458,718,165. 14.69% of the stock is currently owned by insiders.

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.