Segment Wealth Management LLC Has $5.17 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Segment Wealth Management LLC decreased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,975 shares of the company’s stock after selling 516 shares during the period. Segment Wealth Management LLC’s holdings in AppLovin were worth $5,173,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares during the last quarter. Versant Capital Management Inc grew its position in shares of AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the period. Great Valley Advisor Group Inc. increased its stake in AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 89 shares during the period. Finally, HM Payson & Co. increased its position in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup boosted their price target on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Loop Capital lifted their price target on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Piper Sandler assumed coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. Finally, BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $338.06.

AppLovin Stock Performance

Shares of APP stock opened at $342.34 on Tuesday. The company has a market capitalization of $114.89 billion, a price-to-earnings ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52 week low of $40.71 and a 52 week high of $417.64. The company has a 50-day simple moving average of $331.86 and a 200 day simple moving average of $191.58.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 in the last 90 days. Company insiders own 14.69% of the company’s stock.

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.