Watts Gwilliam & Co. LLC Sells 2,599 Shares of AppLovin Corporation $APP

Watts Gwilliam & Co. LLC lowered its position in AppLovin Corporation (NASDAQ:APP) by 83.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 500 shares of the company’s stock after selling 2,599 shares during the period. Watts Gwilliam & Co. LLC’s holdings in AppLovin were worth $175,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Hilltop National Bank bought a new position in AppLovin during the second quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new stake in AppLovin during the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of AppLovin in the 2nd quarter worth about $33,000. Hoey Investments Inc. bought a new position in shares of AppLovin in the 2nd quarter worth about $35,000. Finally, Trust Co. of Vermont acquired a new position in shares of AppLovin in the 2nd quarter valued at about $35,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the transaction, the director owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This trade represents a 5.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 332,727 shares of company stock worth $195,062,520. 13.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on APP. Morgan Stanley raised their target price on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Piper Sandler lifted their price objective on shares of AppLovin from $740.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a research note on Monday, December 8th. Nineteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $692.60.

AppLovin Price Performance

Shares of APP opened at $675.16 on Tuesday. The business’s fifty day moving average is $610.73 and its 200 day moving average is $504.57. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock has a market cap of $228.17 billion, a P/E ratio of 81.94, a P/E/G ratio of 3.60 and a beta of 2.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. The business’s revenue was up 68.2% on a year-over-year basis. Sell-side analysts anticipate that AppLovin Corporation will post 6.87 earnings per share 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.