Mount Yale Investment Advisors LLC Reduces Holdings in AppLovin Co. (NASDAQ:APP)

Mount Yale Investment Advisors LLC lowered its position in AppLovin Co. (NASDAQ:APP) by 39.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,685 shares of the company’s stock after selling 7,625 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in AppLovin were worth $3,784,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evergreen Capital Management LLC purchased a new stake in shares of AppLovin during the second quarter worth $204,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in AppLovin by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,419 shares of the company’s stock worth $2,864,000 after purchasing an additional 12,929 shares in the last quarter. Toronto Dominion Bank boosted its stake in AppLovin by 5.2% in the 2nd quarter. Toronto Dominion Bank now owns 18,135 shares of the company’s stock worth $1,509,000 after purchasing an additional 900 shares during the period. AXA S.A. grew its holdings in AppLovin by 33.2% during the 2nd quarter. AXA S.A. now owns 54,807 shares of the company’s stock valued at $4,561,000 after buying an additional 13,671 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new position in AppLovin during the 2nd quarter valued at about $2,242,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 0.2 %

APP stock opened at $363.10 on Monday. The company has a market capitalization of $121.85 billion, a PE ratio of 110.03, a price-to-earnings-growth ratio of 2.96 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 one year low of $40.71 and a one year high of $417.64. The company’s 50 day moving average price is $337.41 and its two-hundred day moving average price is $199.22.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. As a group, analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their price objective on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Four equities research 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 company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $355.41.

Insider Activity

In related news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 888,867 shares of company stock valued at $284,773,062. 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.