HBK Sorce Advisory LLC Has $455,000 Holdings in AppLovin Corporation $APP

HBK Sorce Advisory LLC decreased its stake in AppLovin Corporation (NASDAQ:APP) by 22.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,299 shares of the company’s stock after selling 379 shares during the period. HBK Sorce Advisory LLC’s holdings in AppLovin were worth $455,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin in the 4th quarter valued at $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the 4th quarter valued at $239,000. DAVENPORT & Co LLC boosted its stake in AppLovin by 15.3% in the 1st quarter. DAVENPORT & Co LLC now owns 2,058 shares of the company’s stock valued at $545,000 after buying an additional 273 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in AppLovin by 5.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,250 shares of the company’s stock valued at $331,000 after buying an additional 69 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in AppLovin by 29.7% in the 1st quarter. Private Trust Co. NA now owns 1,000 shares of the company’s stock valued at $265,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APP. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $630.00 price target on shares of AppLovin in a research note on Tuesday, October 14th. Weiss Ratings lowered AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Finally, Wells Fargo & Company boosted their price objective on AppLovin from $491.00 to $633.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $606.39.

AppLovin Trading Up 2.7%

APP stock opened at $637.33 on Friday. The company has a market cap of $215.58 billion, a P/E ratio of 90.53, a PEG ratio of 3.37 and a beta of 2.53. AppLovin Corporation has a twelve month low of $158.33 and a twelve month high of $745.61. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The business has a fifty day moving average of $589.79 and a 200-day moving average of $437.07.

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

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 35,000 shares of the business’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. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 350 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the sale, the director owned 3,150 shares of the company’s stock, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Insiders own 13.66% of the company’s stock.

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.