Ameritas Advisory Services LLC Has $207,000 Stake in AppLovin Corporation (NASDAQ:APP)

Ameritas Advisory Services LLC trimmed its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 74.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 783 shares of the company's stock after selling 2,263 shares during the period. Ameritas Advisory Services LLC's holdings in AppLovin were worth $207,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC increased its stake in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC increased its stake in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after purchasing an additional 33 shares during the period. Forum Financial Management LP increased its stake in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after purchasing an additional 33 shares during the period. Truvestments Capital LLC increased its stake in shares of AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after purchasing an additional 38 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after purchasing an additional 43 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,714 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00. Following the sale, the chief financial officer owned 192,421 shares in the company, valued at approximately $81,394,083. The trade was a 4.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 513 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director owned 3,451 shares in the company, valued at $1,450,455.30. This trade represents a 12.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock worth $455,062,980 over the last 90 days. 13.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Jefferies Financial Group raised their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Oppenheimer restated an "outperform" rating and set a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. UBS Group raised their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Benchmark restated a "buy" rating and set a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group raised their price objective on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $438.85.

AppLovin Trading Up 1.3%

NASDAQ APP opened at $340.24 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a market cap of $115.13 billion, a price-to-earnings ratio of 61.42, a price-to-earnings-growth ratio of 2.04 and a beta of 2.42. The business's fifty day moving average is $352.35 and its 200 day moving average is $333.89.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the business posted $0.67 EPS. AppLovin's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Profile

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.