AppLovin Corporation $APP Shares Sold by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management LLC has cut its holdings in AppLovin Corporation by 46.5%, reducing its shares to 2,075 after selling 1,801 shares in the second quarter.
• AppLovin's shares are currently valued at $669.86, reflecting a significant increase, and the company reported an earnings per share (EPS) of $2.26 for the recent quarter.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have increased their stakes in AppLovin, indicating renewed confidence in the company's potential.

Kathmere Capital Management LLC decreased its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 46.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,075 shares of the company's stock after selling 1,801 shares during the quarter. Kathmere Capital Management LLC's holdings in AppLovin were worth $726,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after buying an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after buying an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. grew its position in AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after buying an additional 1,185,859 shares during the last quarter. Invesco Ltd. boosted its stake in AppLovin by 32.9% in the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock worth $1,062,876,000 after purchasing an additional 992,316 shares during the period. Finally, Kensico Capital Management Corp boosted its stake in AppLovin by 12.9% in the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company's stock worth $762,849,000 after purchasing an additional 328,000 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Up 4.7%

Shares of NASDAQ:APP opened at $669.86 on Friday. The firm has a fifty day moving average of $480.60 and a two-hundred day moving average of $377.20. The firm has a market capitalization of $226.58 billion, a P/E ratio of 95.15, a price-to-earnings-growth ratio of 3.71 and a beta of 2.44. AppLovin Corporation has a 12-month low of $126.53 and a 12-month high of $671.18. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the completion of the sale, the director directly owned 3,150 shares of the company's stock, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last 90 days. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research raised shares of AppLovin to a "strong-buy" rating in a research note on Friday, August 8th. UBS Group raised their price objective on shares of AppLovin from $540.00 to $810.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wedbush raised their price objective on shares of AppLovin from $620.00 to $725.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $540.76.

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.

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