Andra AP fonden Sells 39,497 Shares of AppLovin Corporation $APP

Andra AP fonden lowered its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 37.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 64,666 shares of the company’s stock after selling 39,497 shares during the period. Andra AP fonden’s holdings in AppLovin were worth $25,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of APP. Redhawk Wealth Advisors Inc. grew its position in AppLovin by 2.9% during the 4th 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 raised its stake in shares of AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Finivi Inc. lifted its holdings in shares of AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after purchasing an additional 22 shares during the period. Alta Wealth Advisors LLC grew its stake 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 worth $2,645,000 after purchasing an additional 24 shares during the last quarter. Finally, Washington Trust Advisors Inc. increased its holdings in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 0.0%

Shares of NASDAQ:APP opened at $424.60 on Tuesday. AppLovin Corporation has a 1 year low of $343.00 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The business’s 50-day moving average is $504.94 and its 200-day moving average is $485.82. The company has a market capitalization of $142.64 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 0.69 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business earned $1.67 EPS. The company’s revenue for the quarter was up 58.9% compared to the same quarter last year. Equities research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction that occurred on 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 approximately $62,786,252.76. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 over the last three months. Insiders own 12.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. KeyCorp set a $775.00 target price on AppLovin in a report on Wednesday, June 10th. Wedbush reissued an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Raymond James Financial began coverage on AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Finally, Argus began coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $668.45.

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.