AppLovin Corporation $APP Shares Sold by QTR Family Wealth LLC

Key Points

• QTR Family Wealth LLC reduced its holdings in AppLovin Corporation by 42.7%, now owning 586 shares valued at $205,000.
• AppLovin reported a quarterly earnings per share of $2.26, exceeding expectations, although revenue of $1.26 billion fell short of the forecast of $1.37 billion.
• Several institutional investors increased their stakes in AppLovin significantly in the first quarter, with Dynasty Wealth Management boosting its position by an astonishing 117,664.4%.

QTR Family Wealth LLC lessened its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 42.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 586 shares of the company's stock after selling 436 shares during the period. QTR Family Wealth LLC's holdings in AppLovin were worth $205,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of APP. Dynasty Wealth Management LLC lifted its position in shares of AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after buying an additional 2,700,399 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of AppLovin by 36.7% during the 1st 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. Vanguard Group Inc. lifted its position in shares of AppLovin by 7.3% during the 1st 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. Baillie Gifford & Co. lifted its position in shares of AppLovin by 29.0% during the 1st 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. Finally, Jennison Associates LLC lifted its position in shares of AppLovin by 86.5% during the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock worth $632,478,000 after buying an additional 1,107,104 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP opened at $704.09 on Thursday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $238.16 billion, a P/E ratio of 100.01, a P/E/G ratio of 3.94 and a beta of 2.52. The company's fifty day moving average is $501.73 and its two-hundred day moving average is $385.43. AppLovin Corporation has a 1 year low of $128.50 and a 1 year high of $745.61.

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

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 35,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares of the company's stock, valued at $135,579,499.65. This represents a 11.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director directly owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APP. Citigroup boosted their price objective on shares of AppLovin from $600.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of AppLovin to a "strong-buy" rating in a research report on Friday, August 8th. Piper Sandler upped their price target on shares of AppLovin from $500.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Finally, Oppenheimer upped their price target on shares of AppLovin from $500.00 to $740.00 and gave the company an "outperform" rating in a research report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $578.86.

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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