AppLovin Corporation $APP Position Lowered by Argentarii LLC

Argentarii LLC decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,606 shares of the company’s stock after selling 32 shares during the quarter. Argentarii LLC’s holdings in AppLovin were worth $912,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of APP. Dynasty Wealth Management LLC lifted its position in shares of AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after purchasing an additional 2,700,399 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of AppLovin by 86.5% during the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock worth $632,478,000 after purchasing an additional 1,107,104 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Jefferies Financial Group increased their price target on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Wedbush raised their target price on shares of AppLovin from $620.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Citigroup reissued a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Piper Sandler raised their target price on shares of AppLovin from $470.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, Benchmark raised their target price on shares of AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $501.95.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $432.49, for a total value of $86,498,000.00. Following the transaction, the director owned 181,929 shares of the company’s stock, valued at approximately $78,682,473.21. This represents a 52.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,054 shares in the company, valued at $1,103,147,536.16. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock valued at $514,863,333 in the last three months. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $643.50 on Tuesday. AppLovin Corporation has a 12 month low of $124.59 and a 12 month high of $657.00. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market capitalization of $217.66 billion, a PE ratio of 91.41, a P/E/G ratio of 3.60 and a beta of 2.44. The company’s 50 day simple moving average is $457.27 and its 200 day simple moving average is $367.01.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 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 business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 77.1% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

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.