Lbp Am Sa Reduces Position in AppLovin Corporation (NASDAQ:APP)

LBP AM SA cut its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 15.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,378 shares of the company's stock after selling 4,293 shares during the quarter. LBP AM SA's holdings in AppLovin were worth $6,459,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the fourth quarter worth about $25,000. Tucker Asset Management LLC bought a new position in AppLovin in the 4th quarter valued at approximately $28,000. Atala Financial Inc bought a new position in AppLovin during the 1st quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in AppLovin during the 1st quarter worth approximately $29,000. Finally, Alpine Bank Wealth Management bought a new position in AppLovin during the 1st quarter worth approximately $27,000. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APP. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Thursday, June 26th. Scotiabank upgraded AppLovin to a "strong-buy" rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Piper Sandler restated an "overweight" rating and issued a $470.00 price objective (up from $455.00) on shares of AppLovin in a research note on Thursday, June 26th. Finally, Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $438.43.

AppLovin Price Performance

Shares of NASDAQ APP traded down $8.55 during midday trading on Friday, hitting $337.77. 2,296,744 shares of the company's stock were exchanged, compared to its average volume of 6,217,334. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. The company has a market cap of $114.30 billion, a price-to-earnings ratio of 61.04, a PEG ratio of 2.10 and a beta of 2.42. The business's fifty day moving average price is $357.68 and its two-hundred day moving average price is $334.38.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. AppLovin's revenue was up 40.3% on a year-over-year basis. As a group, research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director owned 3,451 shares of the company's stock, valued at $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 34,766 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the completion of the sale, the chief technology officer directly owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. This represents a 32.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock valued at $455,062,980 over the last 90 days. Company insiders own 13.66% of the company's stock.

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.