AppLovin Corporation $APP Shares Sold by Oxinas Partners Wealth Management LLC

Key Points

• Oxinas Partners Wealth Management LLC has reduced its holdings in AppLovin Corporation by 16.8%, now owning 2,151 shares valued at approximately $753,000.
• The company reported earnings of $2.26 per share for the last quarter, exceeding estimates and reflecting a 77.1% increase in quarterly revenue compared to the previous year.
• Analysts have mixed opinions, with target price increases from firms like Jefferies Financial Group, which raised it from $560 to $615, while Wall Street Zen downgraded the stock from "buy" to "hold."

Oxinas Partners Wealth Management LLC lessened its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 16.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,151 shares of the company's stock after selling 434 shares during the period. Oxinas Partners Wealth Management LLC's holdings in AppLovin were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its position in AppLovin by 5.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after acquiring an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of AppLovin by 62.7% during the first 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 in the last quarter. Yousif Capital Management LLC lifted its holdings in AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after purchasing an additional 119 shares during the period. Park Avenue Securities LLC grew its position in AppLovin by 30.6% in the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company's stock valued at $7,313,000 after buying an additional 4,890 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company's stock valued at $15,827,000 after buying an additional 6,104 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

NASDAQ APP opened at $641.92 on Thursday. 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 1 year low of $125.62 and a 1 year high of $670.19. The company has a market cap of $217.13 billion, a PE ratio of 91.18, a PEG ratio of 3.61 and a beta of 2.44. The stock's 50-day moving average price is $468.97 and its two-hundred day moving average price is $370.86.

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

Insider Activity

In other news, CEO Arash Adam Foroughi sold 26,200 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the completion of the sale, the chief executive officer owned 2,590,054 shares in the company, valued at $1,140,219,472.42. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 35,000 shares of the firm's stock in a transaction on 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 directly owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock valued at $514,863,333 in the last 90 days. Company insiders own 13.66% of the company's stock.

Analysts Set New Price Targets

APP has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Piper Sandler boosted their price objective on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Morgan Stanley upped their price objective on AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wedbush lifted their target price on AppLovin from $620.00 to $725.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Finally, Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $513.38.

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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