Generali Asset Management SPA SGR Sells 1,012 Shares of AppLovin Corporation $APP

Key Points

• Generali Asset Management SPA SGR decreased its stake in AppLovin Corporation by 4.2%, selling 1,012 shares and retaining a total of 23,287 shares valued at $8.15 million.
• Recent insider trading includes CFO Matthew Stumpf selling 4,874 shares for over $2 million, and a total of 1,156,788 shares valued at $514.9 million sold by insiders in the last ninety days.
• AppLovin's analysts ratings include one Strong Buy, twenty-one Buys, four Holds, and one Sell, with a consensus price target of approximately $600.59.

Generali Asset Management SPA SGR decreased its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,287 shares of the company's stock after selling 1,012 shares during the quarter. Generali Asset Management SPA SGR's holdings in AppLovin were worth $8,152,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Revolve Wealth Partners LLC purchased a new position in shares of AppLovin during the fourth quarter worth approximately $294,000. Bison Wealth LLC purchased a new position in AppLovin during the 4th quarter worth $239,000. Yousif Capital Management LLC raised its position in AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after purchasing an additional 119 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after buying an additional 121 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of AppLovin by 174.5% during the first quarter. Fifth Third Bancorp now owns 269 shares of the company's stock valued at $71,000 after buying an additional 171 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 4,874 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $416.18, for a total transaction of $2,028,461.32. Following the sale, the chief financial officer owned 181,657 shares in the company, valued at approximately $75,602,010.26. The trade was a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 350 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the transaction, the director owned 3,150 shares of the company's stock, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Company insiders own 13.66% of the company's stock.

AppLovin Stock Performance

Shares of APP stock opened at $590.03 on Wednesday. AppLovin Corporation has a 12-month low of $139.40 and a 12-month high of $745.61. The business's fifty day simple moving average is $545.78 and its 200-day simple moving average is $405.56. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market cap of $199.58 billion, a PE ratio of 83.81, a PEG ratio of 3.20 and a beta of 2.53.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on APP shares. Piper Sandler increased their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Jefferies Financial Group increased their price objective on shares of AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. The Goldman Sachs Group restated a "neutral" rating and set a $630.00 target price on shares of AppLovin in a report on Tuesday. Finally, Benchmark increased their target price on AppLovin from $525.00 to $640.00 and gave the company a "buy" rating in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $600.59.

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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