AppLovin Corporation $APP Holdings Trimmed by Virtu Financial LLC

Virtu Financial LLC reduced its position in shares of AppLovin Corporation (NASDAQ:APP) by 85.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,719 shares of the company’s stock after selling 32,357 shares during the period. Virtu Financial LLC’s holdings in AppLovin were worth $3,853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of AppLovin in the 4th quarter worth approximately $27,000. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $32,000. Finally, Graney & King LLC acquired a new stake in AppLovin during the third quarter valued at approximately $36,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Down 2.0%

NASDAQ:APP opened at $469.71 on Friday. The business’s fifty day moving average price is $490.66 and its 200 day moving average price is $518.14. The firm has a market capitalization of $157.79 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 0.78 and a beta of 2.45. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61.

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

Insiders Place Their Bets

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the sale, the director directly owned 123,520 shares of the company’s stock, valued at $71,893,580.80. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 389,924 shares of company stock valued at $195,693,875 over the last ninety days. Insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APP. BTIG Research restated a “buy” rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Wells Fargo & Company raised their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Citigroup reissued a “buy” rating and set a $710.00 price objective on shares of AppLovin in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $669.62.

About AppLovin

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.