AppLovin Corporation $APP Shares Sold by Private Client Services LLC

by · The Markets Daily

Private Client Services LLC lessened its stake in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 44.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,539 shares of the company’s stock after selling 1,254 shares during the period. Private Client Services LLC’s holdings in AppLovin were worth $793,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trilogy Capital Inc. increased its position in AppLovin by 48.5% during the second quarter. Trilogy Capital Inc. now owns 10,625 shares of the company’s stock worth $5,474,000 after purchasing an additional 3,471 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in AppLovin by 15.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $369,000 after purchasing an additional 97 shares during the period. Versant Capital Management Inc boosted its holdings in AppLovin by 20.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,039 shares of the company’s stock valued at $535,000 after purchasing an additional 177 shares during the last quarter. CX Institutional boosted its holdings in AppLovin by 160.7% in the 2nd quarter. CX Institutional now owns 636 shares of the company’s stock valued at $328,000 after purchasing an additional 392 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new stake in shares of AppLovin in the 1st quarter valued at approximately $194,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on APP shares. Raymond James Financial assumed coverage on shares of AppLovin in a report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target for the company. Argus started coverage on AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. UBS Group increased their price objective on AppLovin from $750.00 to $798.00 and gave the stock a “buy” rating in a research report on Monday. BTIG Research reissued a “buy” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Wells Fargo & Company lifted their target price on AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average price target of $672.18.

View Our Latest Report on APP

AppLovin Price Performance

AppLovin stock opened at $406.16 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market capitalization of $136.45 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 0.65 and a beta of 2.54. The company’s 50 day simple moving average is $489.68 and its 200-day simple moving average is $469.11. AppLovin Corporation has a 1 year low of $359.00 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 22,544 shares of AppLovin stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the transaction, the chief executive officer owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is owned by company insiders.

About AppLovin

(Free Report)

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.

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