AppLovin Corporation $APP Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in AppLovin Corporation (NASDAQ:APP) by 19.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 720,407 shares of the company’s stock after selling 178,751 shares during the period. First Trust Advisors LP owned about 0.21% of AppLovin worth $252,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of APP. Guggenheim Capital LLC boosted its holdings in AppLovin by 7.1% in the second quarter. Guggenheim Capital LLC now owns 74,768 shares of the company’s stock valued at $26,175,000 after purchasing an additional 4,925 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of AppLovin by 27.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,096 shares of the company’s stock valued at $384,000 after buying an additional 239 shares during the period. Alpha Family Trust acquired a new position in shares of AppLovin during the second quarter worth about $446,000. CW Advisors LLC increased its stake in shares of AppLovin by 63.7% during the second quarter. CW Advisors LLC now owns 9,564 shares of the company’s stock worth $3,326,000 after buying an additional 3,720 shares during the period. Finally, JT Stratford LLC acquired a new stake in AppLovin in the second quarter valued at approximately $211,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of NASDAQ APP opened at $683.78 on Friday. The stock has a market cap of $231.09 billion, a P/E ratio of 82.98, a P/E/G ratio of 3.55 and a beta of 2.51. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The stock has a 50 day moving average of $608.45 and a two-hundred day moving average of $486.70. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 68.2% compared to the same quarter last year. On average, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 4,884 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $515.76, for a total transaction of $2,518,971.84. Following the completion of the sale, the chief financial officer directly owned 191,161 shares of the company’s stock, valued at approximately $98,593,197.36. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the transaction, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 332,577 shares of company stock worth $194,958,522. Company insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on APP. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Royal Bank Of Canada lifted their price target on AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley increased their price objective on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, Piper Sandler raised their target price on AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Twenty analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $668.90.

About AppLovin

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.