AppLovin Corporation $APP Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. has reduced its stake in AppLovin Corporation by 33%, selling 3,653 shares and leaving it with 7,427 shares worth approximately $1.82 million.
• AppLovin's CEO and a director have sold a significant number of shares, with CEO Arash Adam Foroughi selling 90,000 shares for almost $37.9 million, indicating a notable decrease in insider ownership.
• AppLovin's quarterly earnings report showed a positive EPS of $2.26, beating expectations, though revenue was below the consensus estimate, highlighting mixed performance.

APG Asset Management N.V. decreased its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 33.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,427 shares of the company's stock after selling 3,653 shares during the quarter. APG Asset Management N.V.'s holdings in AppLovin were worth $1,822,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC lifted its position in AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after buying an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after purchasing an additional 66,453 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after purchasing an additional 119 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $969,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 15,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $450.00, for a total transaction of $6,750,000.00. Following the completion of the sale, the insider directly owned 304,955 shares of the company's stock, valued at approximately $137,229,750. This trade represents a 4.69% 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, CEO Arash Adam Foroughi sold 26,200 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer directly owned 2,590,054 shares of the company's stock, valued at $1,140,219,472.42. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,236,152 shares of company stock valued at $545,240,378. 13.66% of the stock is owned by company insiders.

AppLovin Stock Performance

NASDAQ APP traded up $20.81 on Thursday, reaching $483.75. The stock had a trading volume of 5,893,324 shares, compared to its average volume of 6,618,987. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 12-month low of $82.51 and a 12-month high of $525.15. The business's 50-day moving average price is $384.32 and its 200 day moving average price is $347.60. The stock has a market cap of $163.63 billion, a P/E ratio of 68.71, a price-to-earnings-growth ratio of 2.59 and a beta of 2.43.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period last year, the firm earned $0.89 EPS. The firm's revenue for the quarter was up 77.1% on a year-over-year basis. As a group, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on APP shares. Scotiabank reaffirmed an "outperform" rating on shares of AppLovin in a research note on Thursday. JPMorgan Chase & Co. upped their price target on AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Tuesday. BTIG Research upped their price target on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Benchmark reiterated a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and a consensus price target of $478.81.

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.