EULAV Asset Management Sells 5,998 Shares of AppLovin Corporation $APP

EULAV Asset Management trimmed its position in shares of AppLovin Corporation (NASDAQ:APP) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 52,503 shares of the company’s stock after selling 5,998 shares during the quarter. EULAV Asset Management’s holdings in AppLovin were worth $35,378,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in APP. CBIZ Investment Advisory Services LLC grew its stake in AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after acquiring an additional 18 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares in the last quarter. Claro Advisors LLC grew its stake in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after acquiring an additional 20 shares in the last quarter. Finally, Strategic Advocates LLC grew its stake in AppLovin by 0.8% in the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after acquiring an additional 21 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 467,092 shares of company stock valued at $220,268,340. 13.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

APP has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Oppenheimer dropped their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Piper Sandler upped their target price on shares of AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Finally, Wedbush restated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

AppLovin Stock Performance

Shares of APP stock opened at $557.20 on Friday. The firm has a market cap of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. The company’s 50 day moving average is $470.43 and its 200 day moving average is $521.43. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s revenue was up 58.9% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. On average, sell-side analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

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.