AppLovin Corporation $APP Shares Sold by Optimize Financial Inc

Key Points

• Optimize Financial Inc significantly reduced its stake in AppLovin Corporation by 60.7% during the first quarter, bringing its holdings to 4,542 shares worth approximately $1.2 million.
• In recent insider transactions, Victoria Valenzuela sold 35,000 shares for over $17.5 million, while Vasily Shikin sold 30,000 shares valued at $13.1 million, both indicating a decrease in their ownership positions.
• Despite a recent earnings report that exceeded EPS expectations, AppLovin's stock remains volatile, reflecting a market capitalization of approximately $185.04 billion and a 12-month range of $84.73 to $555.50.

Optimize Financial Inc reduced its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 60.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,542 shares of the company's stock after selling 7,009 shares during the quarter. Optimize Financial Inc's holdings in AppLovin were worth $1,203,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Kingswood Wealth Advisors LLC raised its stake in AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock valued at $445,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after purchasing an additional 66,453 shares during the last quarter. Yousif Capital Management LLC raised its stake in AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after purchasing an additional 119 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in AppLovin in the 4th quarter valued at about $969,000. Finally, Assenagon Asset Management S.A. raised its stake in AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was 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 in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% 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 link. Also, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the sale, the chief technology officer owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,158,288 shares of company stock valued at $515,437,023. Insiders own 13.66% of the company's stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $547.04 on Tuesday. The firm has a market capitalization of $185.04 billion, a PE ratio of 77.70, a P/E/G ratio of 2.74 and a beta of 2.44. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The business has a 50-day moving average of $406.00 and a two-hundred day moving average of $347.99. AppLovin Corporation has a 12 month low of $84.73 and a 12 month high of $555.50.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping the consensus estimate 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 return on equity of 252.67% and a net margin of 45.72%.The firm's revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. As a group, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APP. Jefferies Financial Group boosted their target price on shares of AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research note on Friday. Scotiabank reiterated an "outperform" rating on shares of AppLovin in a research note on Thursday, August 28th. Wall Street Zen lowered AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. BTIG Research upped their target price on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and a consensus target price of $482.86.

AppLovin 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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