Whipplewood Advisors LLC Has $1.05 Million Stock Holdings in AppLovin Corporation $APP

Whipplewood Advisors LLC lowered its stake in AppLovin Corporation (NASDAQ:APP) by 20.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,000 shares of the company’s stock after selling 750 shares during the quarter. Whipplewood Advisors LLC’s holdings in AppLovin were worth $1,050,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hilltop National Bank acquired a new position in shares of AppLovin in the 2nd quarter valued at $26,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin in the 1st quarter valued at $29,000. SouthState Corp acquired a new position in shares of AppLovin in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC lifted its stake in shares of AppLovin by 428.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the company’s stock valued at $33,000 after purchasing an additional 107 shares during the period. Finally, Hoey Investments Inc. acquired a new position in shares of AppLovin in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $620.00 on Friday. AppLovin Corporation has a fifty-two week low of $158.33 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $209.72 billion, a price-to-earnings ratio of 88.07, a PEG ratio of 3.37 and a beta of 2.53. The business has a 50-day moving average of $569.09 and a 200-day moving average of $424.16.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company posted $0.89 earnings per share. AppLovin’s quarterly revenue was up 77.1% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on APP. Royal Bank Of Canada began coverage on AppLovin in a research note on Monday, October 13th. They set an “outperform” rating and a $700.00 price objective on the stock. Oppenheimer set a $740.00 price objective on AppLovin in a research note on Tuesday, October 7th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wedbush raised their price objective on AppLovin from $725.00 to $745.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Bank of America increased their target price on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $605.13.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the transaction, the director owned 181,929 shares in the company, valued at approximately $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the sale, the director owned 7,283,292 shares of the company’s stock, valued at $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last three months. Corporate insiders own 13.66% of the company’s stock.

AppLovin Company Profile

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.