Rakuten Securities Inc. Trims Stock Holdings in AppLovin Corporation $APP

Rakuten Securities Inc. lowered its stake in shares of AppLovin Corporation (NASDAQ:APP) by 38.6% during the fourth quarter, Holdings Channel reports. The fund owned 6,476 shares of the company’s stock after selling 4,064 shares during the quarter. AppLovin comprises 1.4% of Rakuten Securities Inc.’s portfolio, making the stock its 14th biggest holding. Rakuten Securities Inc.’s holdings in AppLovin were worth $4,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC acquired a new position in AppLovin in the 4th quarter valued at about $294,000. Bison Wealth LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC boosted its stake in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after buying an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after buying an additional 9,380 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the sale, the chief executive officer directly owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

AppLovin stock opened at $454.17 on Friday. AppLovin Corporation has a 1 year low of $246.00 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The firm has a 50 day moving average price of $432.34 and a 200 day moving average price of $541.62. The company has a market cap of $153.18 billion, a price-to-earnings ratio of 46.58, a PEG ratio of 0.84 and a beta of 2.50.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. During the same quarter last year, the firm posted $1.73 earnings per share. AppLovin’s revenue was up 66.0% on a year-over-year basis. Sell-side analysts predict that AppLovin Corporation will post 15.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of several recent analyst reports. Argus started coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Wedbush lifted their target price on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Piper Sandler reiterated an “overweight” rating and issued a $650.00 price target (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Jefferies Financial Group decreased their price objective on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $673.25.

AppLovin Company 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.