DeDora Capital Inc. Reduces Holdings in AppLovin Corporation $APP

Key Points

• DeDora Capital Inc. has reduced its holdings in AppLovin Corporation by 13.3%, now owning 8,067 shares valued at approximately $2.82 million.
• AppLovin's stock is currently trading at $599.31 with a market cap of $202.72 billion, and has seen a significant stock performance range from a 52-week low of $141.35 to a high of $745.61.
• Recent analyst ratings show a general optimism for AppLovin, with an average target price of $600.59 and multiple upgrades, including a report from Benchmark increasing their target from $525 to $640.

DeDora Capital Inc. trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 13.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,067 shares of the company's stock after selling 1,233 shares during the period. DeDora Capital Inc.'s holdings in AppLovin were worth $2,824,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vestcor Inc increased its stake in shares of AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after purchasing an additional 33 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of AppLovin by 32.7% during the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company's stock worth $48,000 after purchasing an additional 34 shares in the last quarter. GSG Advisors LLC increased its stake in shares of AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock worth $2,820,000 after purchasing an additional 35 shares in the last quarter. Argentarii LLC increased its stake in shares of AppLovin by 1.5% during the 1st quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after purchasing an additional 40 shares in the last quarter. Finally, Atlas Capital Advisors Inc. increased its stake in shares of AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock worth $104,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 1.1%

Shares of NASDAQ APP opened at $599.31 on Friday. AppLovin Corporation has a 52-week low of $141.35 and a 52-week high of $745.61. The firm has a fifty day moving average of $556.25 and a 200-day moving average of $412.29. The stock has a market capitalization of $202.72 billion, a PE ratio of 85.13, a P/E/G ratio of 3.25 and a beta of 2.53. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the company earned $0.89 EPS. The business's quarterly revenue was up 77.1% compared to the same quarter last year. On average, analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on APP. Benchmark raised their price objective on shares of AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Morgan Stanley lifted their target price on shares of AppLovin from $480.00 to $750.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Finally, Royal Bank Of Canada began coverage on shares of AppLovin in a research note on Monday, October 13th. They issued an "outperform" rating and a $700.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $600.59.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the transaction, the chief executive officer owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the transaction, the director owned 3,150 shares in the company, valued at $1,537,105.50. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock valued at $514,863,333 over the last quarter. 13.66% of the stock is currently owned by corporate insiders.

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.

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