AppLovin Corporation $APP Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC cut its holdings in AppLovin Corporation (NASDAQ:APP) by 97.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 118 shares of the company’s stock after selling 4,994 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in AppLovin were worth $47,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. raised its position in AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after acquiring an additional 18 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Finivi Inc. grew its position in shares of AppLovin by 3.2% in the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after purchasing an additional 22 shares during the last quarter. Alta Wealth Advisors LLC grew its position in shares of AppLovin by 0.6% in the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after purchasing an additional 24 shares during the last quarter. Finally, Washington Trust Advisors Inc. increased its stake in shares of AppLovin by 160.0% during 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 in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $1,603,488.04. Following the transaction, the director owned 120,444 shares in the company, valued at $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 393,000 shares of company stock valued at $197,297,363. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Performance

Shares of APP opened at $424.54 on Friday. AppLovin Corporation has a 1 year low of $343.00 and a 1 year high of $745.61. The company’s 50 day simple moving average is $506.01 and its 200 day simple moving average is $489.19. The company has a market capitalization of $142.62 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 0.69 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 EPS. On average, sell-side analysts predict that AppLovin Corporation will post 15.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research report on Tuesday, July 7th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price target on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wedbush restated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.45.

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.