AppLovin Corporation $APP Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 20.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,916 shares of the company's stock after selling 502 shares during the period. Simplicity Wealth LLC's holdings in AppLovin were worth $671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APP. Vestcor Inc lifted its position in shares of AppLovin by 0.8% during the first quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after purchasing an additional 33 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of AppLovin by 32.7% during the second quarter. Fortitude Family Office LLC now owns 138 shares of the company's stock worth $48,000 after purchasing an additional 34 shares in the last quarter. GSG Advisors LLC lifted its position in shares of AppLovin by 0.3% during the first quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock worth $2,820,000 after purchasing an additional 35 shares in the last quarter. Argentarii LLC lifted its position in shares of AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after purchasing an additional 40 shares in the last quarter. Finally, Atlas Capital Advisors Inc. lifted its position in shares of AppLovin by 11.3% during the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock worth $104,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on APP shares. Oppenheimer set a $740.00 target price on shares of AppLovin in a research report on Tuesday. Piper Sandler boosted their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Bank of America lifted their price target on shares of AppLovin from $580.00 to $860.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Finally, BTIG Research lifted their price target on shares of AppLovin from $547.00 to $664.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $579.81.

AppLovin Stock Up 7.6%

APP stock opened at $631.85 on Wednesday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a 1-year low of $139.40 and a 1-year high of $745.61. The firm has a fifty day moving average price of $524.30 and a two-hundred day moving average price of $395.61. The firm has a market cap of $213.72 billion, a price-to-earnings ratio of 89.75, a PEG ratio of 3.22 and a beta of 2.53.

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, beating the consensus estimate of $2.05 by $0.21. The firm 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 firm's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Research analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Corporate insiders own 13.66% of the company's stock.

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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