AppLovin Corporation $APP Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in AppLovin Corporation by 58.7% in Q2, lowering their holdings to 2,176 shares valued at $758,000.
• AppLovin's shares are currently priced at $599.31, with a market capitalization of approximately $202.72 billion and a 12-month trading range between $141.35 and $745.61.
• Recent insider sales include Director Eduardo Vivas selling 125,000 shares at an average price of $466, and CEO Arash Adam Foroughi selling 90,000 shares at about $421.04.

Atria Wealth Solutions Inc. decreased its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 58.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,176 shares of the company's stock after selling 3,091 shares during the period. Atria Wealth Solutions Inc.'s holdings in AppLovin were worth $758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atala Financial Inc acquired a new position in AppLovin during the first quarter worth approximately $26,000. Hilltop National Bank acquired a new position in AppLovin during the second quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in AppLovin during the first quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new position in AppLovin during the first quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Price Performance

Shares of APP stock opened at $599.31 on Friday. The company has a market capitalization of $202.72 billion, a PE ratio of 85.13, a price-to-earnings-growth ratio of 3.25 and a beta of 2.53. The firm has a fifty day simple moving average of $556.25 and a 200-day simple moving average of $412.29. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a twelve month low of $141.35 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business's quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. Equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. This represents a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at $1,103,147,536.16. This trade represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Corporate insiders own 13.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler upped their price target on shares of AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. BTIG Research increased their price objective on shares of AppLovin from $547.00 to $664.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Zacks Research lowered shares of AppLovin from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. The Goldman Sachs Group reissued a "neutral" rating and issued a $630.00 price objective on shares of AppLovin in a research report on Tuesday. Finally, UBS Group increased their price objective on shares of AppLovin from $540.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average target price of $600.59.

About AppLovin

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.

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