Kathmere Capital Management LLC Sells 1,801 Shares of AppLovin Corporation $APP

Kathmere Capital Management LLC lessened its position in AppLovin Corporation (NASDAQ:APP) by 46.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,075 shares of the company’s stock after selling 1,801 shares during the quarter. Kathmere Capital Management LLC’s holdings in AppLovin were worth $726,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of APP. Dynasty Wealth Management LLC raised its holdings in AppLovin by 117,664.4% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after acquiring an additional 2,700,399 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in AppLovin by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after acquiring an additional 1,769,400 shares during the period. Vanguard Group Inc. raised its holdings in AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after acquiring an additional 1,213,536 shares during the period. Baillie Gifford & Co. raised its holdings in AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after acquiring an additional 1,185,859 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of AppLovin by 86.5% during the 1st 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 period. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the transaction, the director owned 181,929 shares in the company, valued at approximately $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on APP. Wall Street Zen downgraded shares of AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a report on Friday, August 8th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, BTIG Research boosted their price objective on shares of AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $540.76.

AppLovin Price Performance

Shares of AppLovin stock opened at $669.86 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The firm’s 50-day simple moving average is $480.60 and its 200-day simple moving average is $377.20. AppLovin Corporation has a twelve month low of $126.53 and a twelve month high of $671.18. The firm has a market cap of $226.58 billion, a P/E ratio of 95.15, a price-to-earnings-growth ratio of 3.71 and a beta of 2.44.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm’s revenue was up 77.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. As a group, research analysts expect 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.