AppLovin Corporation $APP Position Decreased by Optimize Financial Inc

Optimize Financial Inc decreased its position in AppLovin Corporation (NASDAQ:APP) by 33.3% in the third quarter, HoldingsChannel.com reports. The fund owned 3,010 shares of the company’s stock after selling 1,500 shares during the period. AppLovin comprises approximately 1.1% of Optimize Financial Inc’s investment portfolio, making the stock its 3rd biggest holding. Optimize Financial Inc’s holdings in AppLovin were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of AppLovin by 2.8% in the third quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after purchasing an additional 19 shares during the last quarter. Optas LLC increased its holdings in AppLovin by 2.5% in the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock worth $630,000 after buying an additional 21 shares during the period. Bartlett & CO. Wealth Management LLC raised its position in AppLovin by 19.6% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock worth $96,000 after buying an additional 22 shares during the last quarter. Avestar Capital LLC lifted its stake in AppLovin by 2.1% during the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock valued at $391,000 after acquiring an additional 23 shares during the period. Finally, Proffitt & Goodson Inc. boosted its holdings in shares of AppLovin by 65.7% in the 3rd quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock valued at $42,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction on 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 completion of the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 4,069 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $497.50, for a total transaction of $2,024,327.50. Following the transaction, the chief executive officer owned 2,998,948 shares of the company’s stock, valued at $1,491,976,630. This represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 340,336 shares of company stock worth $200,062,623 over the last 90 days. 13.66% of the stock is owned by insiders.

AppLovin Stock Performance

NASDAQ APP opened at $461.79 on Wednesday. The stock has a market capitalization of $156.06 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.59 and a beta of 2.49. The stock has a 50-day moving average of $631.92 and a 200 day moving average of $570.29. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61.

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

Analyst Ratings Changes

Several research analysts recently issued reports on APP shares. Morgan Stanley raised their target price on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Monday. Weiss Ratings lowered AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Finally, The Goldman Sachs Group boosted their price target on AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $706.45.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.