Kathmere Capital Management LLC Lowers Stake in AppLovin Corporation (NASDAQ:APP)

Kathmere Capital Management LLC cut its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,876 shares of the company's stock after selling 1,427 shares during the quarter. Kathmere Capital Management LLC's holdings in AppLovin were worth $1,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. HighPoint Advisor Group LLC increased its position in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after acquiring an additional 31 shares during the period. Quadrant Capital Group LLC increased its holdings in AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after buying an additional 33 shares during the period. Forum Financial Management LP increased its holdings in 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 period. Argentarii LLC increased its holdings in AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after buying an additional 40 shares during the period. Finally, Versant Capital Management Inc increased its holdings in AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $97,000 after buying an additional 43 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,734 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.41, for a total value of $6,267,372.94. Following the sale, the chief technology officer directly owned 70,889 shares of the company's stock, valued at approximately $25,052,881.49. This represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara Messing sold 1,500 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the sale, the director directly owned 9,510 shares in the company, valued at approximately $3,637,194.60. The trade was a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock valued at $455,062,980 in the last 90 days. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Performance

Shares of APP traded up $21.06 during trading hours on Monday, reaching $356.16. 2,263,778 shares of the company traded hands, compared to its average volume of 6,239,599. The stock has a market capitalization of $120.52 billion, a P/E ratio of 64.39, a P/E/G ratio of 2.00 and a beta of 2.42. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15. The business has a fifty day moving average price of $358.23 and a 200-day moving average price of $334.19.

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

Analysts Set New Price Targets

APP has been the topic of several research reports. Scotiabank raised shares of AppLovin to a "strong-buy" rating in a report on Tuesday, July 8th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. FBN Securities initiated coverage on shares of AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective on the stock. UBS Group lifted their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Loop Capital reissued a "buy" rating and set a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $438.43.

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.