Valeo Financial Advisors LLC Acquires 1,503 Shares of AppLovin Corporation $APP

Valeo Financial Advisors LLC lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 223.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,176 shares of the company’s stock after acquiring an additional 1,503 shares during the period. Valeo Financial Advisors LLC’s holdings in AppLovin were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cassaday & Co Wealth Management LLC bought a new stake in shares of AppLovin during the 1st quarter valued at $25,000. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin in the 4th quarter worth $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $32,000. Finally, First Pacific Financial acquired a new stake in shares of AppLovin during the first quarter worth $33,000. 41.85% of the stock is owned by institutional investors.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin reported approximately 53% year-over-year revenue growth in the second quarter, with margins above 75%. Supporters argue that the results demonstrate strong scalability and that the company’s expansion into consumer brands, non-gaming applications, web advertising and connected TV could substantially increase its addressable market. AppLovin: I Am Buying The Q2 Stock Plunge
• Positive Sentiment: Third-quarter guidance was described as upbeat, and some analysts and investors believe the recent pullback may be excessive. A technical analysis article suggested that the downtrend could be ending as the shares consolidate near recent lows. Stock Of The Day: Is This The Bottom For AppLovin?
• Neutral Sentiment: Several Wall Street firms reduced their AppLovin price targets, including Citigroup and Morgan Stanley to $650, RBC to $575, BTIG to $574, Needham to $500 and Bank of America to $430. Wells Fargo reiterated an Equal Weight rating. The target reductions signal lower near-term expectations, although most targets remain above the current trading range. Citigroup Cuts AppLovin Price Target
• Negative Sentiment: The principal pressure on APP is the second-quarter revenue shortfall relative to analyst estimates and a sequential growth slowdown. Investors are concerned that improvements to the company’s machine-learning advertising models may be taking longer than expected, raising questions about execution and the pace of future growth. APP Stock Falls Since Q2 Earnings
• Negative Sentiment: The combination of the revenue miss, execution concerns and multiple analyst target cuts has overshadowed AppLovin’s strong growth, causing the stock to fall about 17% since the earnings release and remain highly volatile. AppLovin Revenue Jumped 53%: Why the Stock Plunged

Insiders Place Their Bets

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the transaction, the director owned 120,444 shares in the company, valued at approximately $62,786,252.76. This represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 in the last ninety days. 12.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Argus initiated coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. Wedbush decreased their target price on AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a research report on Thursday. Scotiabank reaffirmed a “sector outperform” rating and issued a $515.00 price target on shares of AppLovin in a research note on Thursday. Royal Bank Of Canada cut their price target on shares of AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of AppLovin from $585.00 to $465.00 and set a “neutral” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $574.82.

AppLovin Stock Performance

Shares of APP stock opened at $339.00 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The company has a market capitalization of $113.88 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 0.64 and a beta of 2.54. The company’s 50 day moving average price is $468.68 and its two-hundred day moving average price is $461.58. AppLovin Corporation has a 52 week low of $332.19 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting the consensus estimate of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. The business’s quarterly revenue was up 52.8% compared to the same quarter last year. On average, analysts expect that AppLovin Corporation will post 15.56 earnings per share for the current fiscal year.

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.