AppLovin Corporation $APP Shares Sold by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. reduced its holdings in AppLovin Corporation by 48.1%, now owning 1,429 shares valued at $379,000.
• AppLovin reported a quarterly revenue of $1.26 billion, which was below the consensus estimate of $1.37 billion, despite beating earnings per share estimates.
• Insider activity included significant stock sales, with Eduardo Vivas selling 125,000 shares for approximately $58.25 million, indicating internal cashing out amidst mixed performance.

Tocqueville Asset Management L.P. decreased its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 48.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,429 shares of the company's stock after selling 1,322 shares during the period. Tocqueville Asset Management L.P.'s holdings in AppLovin were worth $379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Forum Financial Management LP raised its position in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after buying an additional 33 shares during the last quarter. Vestcor Inc increased its position in AppLovin by 0.8% in 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 during the last quarter. Argentarii LLC increased its position in AppLovin by 1.5% in the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after purchasing an additional 40 shares during the last quarter. Atlas Capital Advisors Inc. increased its position in AppLovin by 11.3% in 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 during the last quarter. Finally, Versant Capital Management Inc increased its position in AppLovin by 13.4% in the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In related news, Director Herald Y. Chen sold 49,800 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $436.08, for a total value of $21,716,784.00. Following the sale, the director directly owned 140,000 shares in the company, valued at approximately $61,051,200. The trade was a 26.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barbara Messing sold 1,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction of $573,690.00. Following the sale, the director owned 9,510 shares in the company, valued at $3,637,194.60. This trade represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,022,214 shares of company stock worth $448,294,925. Company insiders own 13.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on APP shares. Benchmark restated a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. HSBC set a $436.00 price target on shares of AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley lifted their price objective on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Zacks Research raised shares of AppLovin to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $472.86.

AppLovin Price Performance

Shares of NASDAQ:APP traded up $5.9360 during midday trading on Thursday, reaching $418.3160. 3,971,641 shares of the company's stock traded hands, compared to its average volume of 7,096,792. The company has a fifty day simple moving average of $373.08 and a two-hundred day simple moving average of $344.34. 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 company has a market cap of $141.50 billion, a P/E ratio of 59.42, a PEG ratio of 2.31 and a beta of 2.43. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The company's quarterly revenue was up 77.1% compared to the same quarter last year. Equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Company 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.