AppLovin Corporation $APP Shares Sold by Invst LLC

Invst LLC lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 44.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,083 shares of the company’s stock after selling 3,280 shares during the period. Invst LLC’s holdings in AppLovin were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC increased its holdings in AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock worth $45,675,000 after buying an additional 66,453 shares during the period. Yousif Capital Management LLC increased its holdings in AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after buying an additional 119 shares during the period. Peak Retirement Planning Inc. acquired a new position in AppLovin in the 4th quarter worth approximately $969,000. Finally, Assenagon Asset Management S.A. increased its holdings in AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock worth $1,106,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $571.31 on Friday. The company’s fifty day moving average price is $419.67 and its 200 day moving average price is $352.06. AppLovin Corporation has a 1 year low of $97.35 and a 1 year high of $576.44. The stock has a market capitalization of $193.25 billion, a P/E ratio of 81.15, a P/E/G ratio of 3.17 and a beta of 2.44. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on APP shares. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler raised their price objective on shares of AppLovin from $470.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Jefferies Financial Group raised their price objective on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research note on Thursday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell 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 $482.86.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at approximately $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last 90 days. 13.66% of the stock is 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.