Focus Partners Wealth Has $6.01 Million Holdings in AppLovin Corporation $APP

Focus Partners Wealth cut its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 57.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,948 shares of the company's stock after selling 31,616 shares during the period. Focus Partners Wealth's holdings in AppLovin were worth $6,006,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock valued at $1,745,752,000 after acquiring an additional 1,769,400 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after acquiring an additional 1,185,859 shares in the last quarter. Invesco Ltd. grew its stake in shares of AppLovin by 32.9% in the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock valued at $1,062,876,000 after acquiring an additional 992,316 shares in the last quarter. Finally, Kensico Capital Management Corp grew its stake in shares of AppLovin by 12.9% in the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company's stock valued at $762,849,000 after acquiring an additional 328,000 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, 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 value of $170,789.50. Following the completion of the sale, the director owned 3,150 shares of the company's stock, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 3,800 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $418.09, for a total transaction of $1,588,742.00. Following the completion of the sale, the chief executive officer directly owned 2,616,254 shares of the company's stock, valued at approximately $1,093,829,634.86. The trade was a 0.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Performance

Shares of APP stock opened at $582.00 on Monday. The company has a market cap of $196.86 billion, a price-to-earnings ratio of 82.67, a price-to-earnings-growth ratio of 3.25 and a beta of 2.44. AppLovin Corporation has a 52 week low of $105.94 and a 52 week high of $587.88. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a 50 day moving average of $424.50 and a 200-day moving average of $353.86.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Scotiabank reaffirmed an "outperform" rating on shares of AppLovin in a research report on Thursday, August 28th. Finally, Morgan Stanley upped their price objective on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $487.86.

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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