AppLovin Corporation $APP Shares Sold by Marietta Investment Partners LLC

Key Points

• Marietta Investment Partners cut its AppLovin stake by 30.5% in the first quarter, selling 2,332 shares and ending with 5,310 shares valued at about $2.1 million.
• AppLovin insiders have also been selling: Director Eduardo Vivas sold 163,910 shares for about $82.6 million, while CFO Matthew Stumpf sold 9,052 shares for about $5.4 million. Over the last 90 days, insiders have sold nearly 390,000 shares worth $195.7 million.
• The company recently beat earnings expectations, reporting $3.56 EPS on $1.84 billion in revenue, and analysts remain mostly bullish with a Moderate Buy consensus and an average price target of $668.27.

Marietta Investment Partners LLC lessened its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 30.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,310 shares of the company's stock after selling 2,332 shares during the quarter. Marietta Investment Partners LLC's holdings in AppLovin were worth $2,113,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in APP. Redhawk Wealth Advisors Inc. increased its stake in shares of AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company's stock worth $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company's stock valued at $224,000 after buying an additional 18 shares in the last quarter. Strategic Advocates LLC lifted its stake in AppLovin by 0.8% in the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company's stock valued at $1,851,000 after buying an additional 21 shares in the last quarter. Finivi Inc. lifted its stake in AppLovin by 3.2% in the 4th quarter. Finivi Inc. now owns 711 shares of the company's stock valued at $479,000 after buying an additional 22 shares in the last quarter. Finally, Alta Wealth Advisors LLC boosted its holdings in AppLovin by 0.6% in the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company's stock worth $2,645,000 after buying an additional 24 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Eduardo Vivas sold 163,910 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director owned 6,785,087 shares of the company's stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Matthew Stumpf sold 9,052 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares of the company's stock, valued at approximately $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

APP stock opened at $527.06 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The business has a 50 day simple moving average of $501.83 and a 200-day simple moving average of $503.58. The firm has a market capitalization of $177.06 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 0.85 and a beta of 2.49. AppLovin Corporation has a 1 year low of $325.58 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 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 the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm's revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 earnings per share. Equities research analysts anticipate that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on APP shares. Citigroup reiterated a "buy" rating on shares of AppLovin in a research note on Monday, June 22nd. Wedbush reaffirmed an "outperform" rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Morgan Stanley reiterated an "overweight" rating on shares of AppLovin in a research report on Wednesday, May 27th. JPMorgan Chase & Co. increased their price objective on AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Finally, KeyCorp set a $775.00 price objective on AppLovin in a report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and an average target price of $668.27.

AppLovin Company 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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