Opal Wealth Advisors LLC Has $53,000 Holdings in AppLovin Co. (NASDAQ:APP)

Opal Wealth Advisors LLC cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 72.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 201 shares of the company’s stock after selling 530 shares during the quarter. Opal Wealth Advisors LLC’s holdings in AppLovin were worth $53,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. FMR LLC lifted its holdings in shares of AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter valued at $1,781,922,000. Geode Capital Management LLC raised its stake in shares of AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock valued at $1,462,144,000 after purchasing an additional 573,310 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of AppLovin by 68.0% in the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock valued at $977,639,000 after purchasing an additional 1,222,074 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, Director Craig Scott Billings sold 12,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the transaction, the director now owns 2,987 shares of the company’s stock, valued at approximately $1,054,769.44. This represents a 80.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barbara Messing sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the transaction, the director now directly owns 9,510 shares in the company, valued at $3,637,194.60. The trade was a 13.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock worth $455,062,980 over the last 90 days. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $364.49 on Monday. The stock’s fifty day moving average is $324.29 and its 200-day moving average is $334.22. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $123.34 billion, a PE ratio of 80.28, a PEG ratio of 3.02 and a beta of 2.53. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 earnings per share. Equities research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on APP shares. UBS Group upped their target price on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. HSBC set a $436.00 target price on AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley upped their target price on AppLovin from $420.00 to $460.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. FBN Securities began coverage on AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $438.10.

AppLovin Company 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.