Level Four Advisory Services LLC Sells 1,162 Shares of AppLovin Corporation $APP

Level Four Advisory Services LLC lowered its position in AppLovin Corporation (NASDAQ:APP) by 66.2% during the second quarter, Holdings Channel reports. The institutional investor owned 592 shares of the company’s stock after selling 1,162 shares during the quarter. Level Four Advisory Services LLC’s holdings in AppLovin were worth $207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc raised its stake in AppLovin by 6.5% in the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after buying an additional 7,001 shares during the last quarter. Legal Advantage Investments Inc. purchased a new stake in shares of AppLovin during the second quarter worth about $1,523,000. IFM Investors Pty Ltd grew its stake in shares of AppLovin by 15.6% during the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after acquiring an additional 6,104 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of AppLovin by 30.6% during the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after acquiring an additional 4,890 shares in the last quarter. Finally, Lee Johnson Capital Management LLC raised its position in shares of AppLovin by 13.6% in the 2nd quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock valued at $4,358,000 after purchasing an additional 1,491 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 4.7%

NASDAQ:APP opened at $653.00 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The company’s fifty day moving average price is $607.16 and its 200-day moving average price is $484.07. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The firm has a market capitalization of $220.68 billion, a P/E ratio of 79.25, a PEG ratio of 3.34 and a beta of 2.51.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. As a group, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 7,385 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $538.10, for a total transaction of $3,973,868.50. Following the sale, the chief technology officer directly owned 46,004 shares of the company’s stock, valued at $24,754,752.40. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 17,112 shares of AppLovin stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $502.48, for a total value of $8,598,437.76. Following the transaction, the chief executive officer owned 2,584,049 shares of the company’s stock, valued at approximately $1,298,432,941.52. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 367,927 shares of company stock worth $212,707,362 over the last quarter. 13.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on APP shares. Jefferies Financial Group boosted their target price 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. The Goldman Sachs Group raised their price target on shares of AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Citigroup dropped their price objective on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Phillip Securities raised AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $658.27.

AppLovin Company 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.