AppLovin Corporation (NASDAQ:APP) Shares Sold by Horizon Investment Services LLC

Horizon Investment Services LLC decreased its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 35.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,883 shares of the company's stock after selling 11,003 shares during the quarter. AppLovin comprises approximately 2.6% of Horizon Investment Services LLC's investment portfolio, making the stock its 13th largest holding. Horizon Investment Services LLC's holdings in AppLovin were worth $5,268,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Revolve Wealth Partners LLC purchased a new position in shares of AppLovin in the 4th quarter worth approximately $294,000. Proficio Capital Partners LLC bought a new stake in AppLovin during the 4th quarter valued at $474,000. Commonwealth Equity Services LLC increased its holdings in shares of AppLovin by 25.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,749 shares of the company's stock worth $4,128,000 after purchasing an additional 2,565 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of AppLovin in the fourth quarter worth $41,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of AppLovin by 244.9% in the fourth quarter. TD Private Client Wealth LLC now owns 1,052 shares of the company's stock worth $341,000 after purchasing an additional 747 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the transaction, the chief financial officer directly owned 192,421 shares in the company, valued at approximately $81,394,083. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara Messing sold 1,500 shares of AppLovin 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 of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by company insiders.

AppLovin Stock Up 3.5%

Shares of NASDAQ:APP traded up $12.12 during trading hours on Wednesday, reaching $362.12. The stock had a trading volume of 3,521,546 shares, compared to its average volume of 6,283,583. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The firm's 50 day moving average is $362.51 and its 200-day moving average is $335.12. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $122.54 billion, a price-to-earnings ratio of 65.36, a P/E/G ratio of 2.17 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 EPS 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 the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The company's revenue was up 40.3% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. Research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $470.00 price objective (up from $455.00) on shares of AppLovin in a research note on Thursday, June 26th. The Goldman Sachs Group lifted their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. HSBC set a $436.00 target price on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $447.57.

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.