AssuredPartners Investment Advisors LLC Cuts Position in AppLovin Corporation (NASDAQ:APP)

AssuredPartners Investment Advisors LLC decreased its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 32.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,170 shares of the company's stock after selling 1,047 shares during the period. AssuredPartners Investment Advisors LLC's holdings in AppLovin were worth $575,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin during the fourth quarter valued at $25,000. Riverview Trust Co boosted its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin in the 4th quarter worth about $28,000. ORG Wealth Partners LLC acquired a new stake in AppLovin in the 1st quarter worth about $29,000. Finally, Inlight Wealth Management LLC acquired a new stake in AppLovin in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on APP shares. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Jefferies Financial Group raised their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. UBS Group raised their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Piper Sandler raised their price objective on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and an average price target of $438.10.

AppLovin Price Performance

Shares of NASDAQ APP opened at $349.48 on Wednesday. AppLovin Corporation has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The business has a 50 day moving average price of $337.27 and a two-hundred day moving average price of $333.51. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The firm has a market cap of $118.26 billion, a PE ratio of 63.08, a price-to-earnings-growth ratio of 1.95 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last issued 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. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $0.67 EPS. AppLovin's quarterly revenue was up 40.3% on a year-over-year basis. Sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 513 shares of AppLovin 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 transaction, the director now owns 3,451 shares in the company, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the completion of the transaction, the insider now owns 357,903 shares of the company's stock, valued at approximately $132,506,427.69. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

About AppLovin

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.

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