AppLovin Corporation $APP Stake Lowered by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC cut its stake in AppLovin Corporation (NASDAQ:APP) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 742 shares of the company’s stock after selling 121 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in AppLovin were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Atala Financial Inc acquired a new position in AppLovin in the 1st quarter worth about $26,000. Hilltop National Bank bought a new stake in shares of AppLovin in the 2nd quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin in the 1st quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in AppLovin in the first quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in AppLovin during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Down 14.0%

Shares of NASDAQ:APP opened at $587.00 on Tuesday. 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 stock’s 50-day moving average is $518.90 and its 200-day moving average is $393.96. The company has a market cap of $198.55 billion, a P/E ratio of 83.38, a P/E/G ratio of 3.74 and a beta of 2.53. AppLovin Corporation has a 52-week low of $137.20 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The firm’s revenue was up 77.1% compared to the same quarter last year. Equities research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on 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 directly owned 181,929 shares in the company, valued at $78,682,473.21. This represents a 52.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares in the company, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on APP shares. Wedbush boosted their target price on shares of AppLovin from $725.00 to $745.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Research raised shares of AppLovin to a “strong-buy” rating in a research report on Friday, August 8th. Bank of America raised their target price on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. Finally, Phillip Securities raised AppLovin to a “moderate buy” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $579.81.

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.