One Wealth Advisors LLC Decreases Holdings in AppLovin Corporation (NASDAQ:APP)

One Wealth Advisors LLC decreased its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 47.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,437 shares of the company's stock after selling 2,190 shares during the quarter. One Wealth Advisors LLC's holdings in AppLovin were worth $646,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the 4th quarter valued at $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the 1st quarter valued at $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the 1st quarter valued at $27,000. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at $28,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the 1st quarter valued at $29,000. Institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 1.2%

Shares of AppLovin stock traded up $4.20 during midday trading on Friday, reaching $364.14. 2,880,710 shares of the company's stock traded hands, compared to its average volume of 4,896,801. The stock has a 50 day moving average of $362.09 and a 200-day moving average of $335.79. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a market cap of $123.22 billion, a PE ratio of 65.73, a price-to-earnings-growth ratio of 2.14 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68.

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

Wall Street Analysts Forecast Growth

APP has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. BTIG Research upped their target price on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research report on Wednesday. Oppenheimer restated an "outperform" rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Wedbush raised AppLovin to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, HSBC set a $436.00 price target on AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $447.57.

Insider Activity

In other news, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the transaction, the director owned 221,209 shares in the company, valued at $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 100,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the sale, the chief executive officer owned 2,760,363 shares of the company's stock, valued at approximately $1,014,461,006.13. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Corporate insiders own 13.66% of the company's stock.

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.