FORA Capital LLC Sells 20,755 Shares of AppLovin Corporation $APP

Key Points

• FORA Capital LLC has decreased its stake in AppLovin Corporation by 55%, now owning 16,963 shares valued at $4,495,000.
• Insider trading activity reported significant sales, with CEO Arash Adam Foroughi selling 26,200 shares and CTO Vasily Shikin selling 17,564 shares on the same day.
• Analysts project continued growth for AppLovin, with multiple firms issuing buy ratings and target price increases, suggesting a consensus target price of $472.86.

FORA Capital LLC trimmed its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 55.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,963 shares of the company's stock after selling 20,755 shares during the quarter. FORA Capital LLC's holdings in AppLovin were worth $4,495,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP lifted its position in AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after acquiring an additional 33 shares during the period. Vestcor Inc increased its stake in shares of AppLovin by 0.8% during the first quarter. Vestcor Inc now owns 4,108 shares of the company's stock valued at $1,088,000 after purchasing an additional 33 shares in the last quarter. GSG Advisors LLC lifted its holdings in shares of AppLovin by 0.3% during the first quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock valued at $2,820,000 after purchasing an additional 35 shares during the last quarter. Argentarii LLC grew its stake in shares of AppLovin by 1.5% in the 1st quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after buying an additional 40 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its stake in shares of AppLovin by 11.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock worth $104,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of AppLovin stock traded up $20.81 on Thursday, hitting $483.75. 5,893,324 shares of the company's stock were exchanged, compared to its average volume of 6,618,987. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The company has a 50-day simple moving average of $381.53 and a 200-day simple moving average of $346.92. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $163.63 billion, a PE ratio of 67.00, a PEG 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, beating analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business's quarterly revenue was up 77.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wedbush reiterated an "outperform" rating and issued a $620.00 price target on shares of AppLovin in a research note on Thursday, August 7th. The Goldman Sachs Group upped their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Citigroup reissued a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Scotiabank reiterated an "outperform" rating on shares of AppLovin in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $478.81.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,564 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.48, for a total value of $7,683,898.72. Following the transaction, the chief technology officer owned 53,389 shares of the company's stock, valued at approximately $23,356,619.72. The trade was a 24.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 15,000 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $450.00, for a total value of $6,750,000.00. Following the transaction, the insider owned 304,955 shares of the company's stock, valued at approximately $137,229,750. The trade was a 4.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,236,152 shares of company stock valued at $545,240,378 in the last three months. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Company 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.