AppLovin Corporation $APP Shares Sold by Florida Financial Advisors LLC

Florida Financial Advisors LLC decreased its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 69.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,580 shares of the company's stock after selling 3,550 shares during the period. Florida Financial Advisors LLC's holdings in AppLovin were worth $629,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its position in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in AppLovin in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC purchased a new position in AppLovin in the fourth quarter valued at about $32,000. First Pacific Financial acquired a new stake in AppLovin during the 1st quarter valued at approximately $33,000. Finally, IMA Advisory Services Inc. grew its stake in AppLovin by 40.0% during the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company's stock valued at $33,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $428.69 on Wednesday. The company has a market cap of $144.01 billion, a PE ratio of 36.83, a P/E/G ratio of 0.69 and a beta of 2.49. AppLovin Corporation has a fifty-two week low of $343.00 and a fifty-two week high of $745.61. The firm has a 50-day simple moving average of $503.70 and a 200 day simple moving average of $484.09. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin's revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the company posted $1.67 earnings per share. On average, sell-side analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the company's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the transaction, the director owned 120,444 shares of the company's stock, valued at approximately $62,786,252.76. The trade was a 2.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on APP. Needham & Company LLC restated a "buy" rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. Morgan Stanley reiterated an "overweight" rating on shares of AppLovin in a research note on Wednesday, May 27th. BTIG Research restated a "buy" rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Argus began coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a "buy" rating and a $520.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $668.45.

AppLovin Profile

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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