AppLovin Corporation (NASDAQ:APP) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC lowered its stake in shares of AppLovin Corporation (NASDAQ:APP) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,993 shares of the company’s stock after selling 193 shares during the quarter. Emerald Advisers LLC’s holdings in AppLovin were worth $1,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of APP. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin during the 4th quarter valued at about $294,000. Proficio Capital Partners LLC acquired a new stake in AppLovin during the 4th quarter worth approximately $474,000. Independent Advisor Alliance acquired a new stake in AppLovin during the 4th quarter worth approximately $518,000. Sequoia Financial Advisors LLC increased its position in AppLovin by 45.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,143 shares of the company’s stock worth $1,018,000 after purchasing an additional 987 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in AppLovin by 130.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,352 shares of the company’s stock worth $762,000 after purchasing an additional 1,332 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the sale, the chief technology officer directly owned 70,889 shares of the company’s stock, valued at $25,069,185.96. This trade represents a 32.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barbara Messing sold 1,500 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the sale, the director directly owned 9,510 shares in the company, valued at $3,637,194.60. This represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock valued at $455,062,980 over the last three months. 13.66% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of APP opened at $335.10 on Monday. The business’s fifty day moving average price is $358.23 and its 200 day moving average price is $334.19. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15. The stock has a market capitalization of $113.39 billion, a PE ratio of 60.49, a price-to-earnings-growth ratio of 2.00 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of AppLovin in a research report on Thursday, May 29th. The Goldman Sachs Group increased their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, June 26th. Benchmark reissued a “buy” rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $470.00 price objective (up previously from $455.00) on shares of AppLovin in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $438.43.

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.