Genus Capital Management Inc. Sells 5,530 Shares of AppLovin Corporation $APP

Key Points

• Genus Capital Management cut its AppLovin stake by 46.4% in the fourth quarter, selling 5,530 shares and ending with 6,390 shares worth about $4.3 million.
• Several AppLovin insiders have recently sold shares, including Director Eduardo Vivas and CTO Vasily Shikin; insiders sold 365,244 shares over the past 90 days worth about $169.6 million.
• Wall Street remains broadly bullish on AppLovin, with an average “Moderate Buy” rating and a price target of $664.35, while the company also reported Q1 earnings and revenue that beat expectations.

Genus Capital Management Inc. reduced its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 46.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,390 shares of the company's stock after selling 5,530 shares during the quarter. Genus Capital Management Inc.'s holdings in AppLovin were worth $4,306,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of APP. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the fourth quarter valued at approximately $27,000. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after acquiring an additional 24 shares during the period. Chilton Capital Management LLC bought a new position in shares of AppLovin in the third quarter valued at approximately $29,000. Activest Wealth Management boosted its position in shares of AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after acquiring an additional 38 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new position in shares of AppLovin in the fourth quarter valued at approximately $32,000. 41.85% of the stock is currently owned by institutional investors.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares of the company's stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 62,804 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the sale, the chief technology officer directly owned 3,255,273 shares of the company's stock, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 365,244 shares of company stock worth $169,584,607. Insiders own 13.66% of the company's stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a "neutral" rating in a research report on Monday, March 2nd. Wells Fargo & Company raised their price objective on shares of AppLovin from $560.00 to $571.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Zacks Research lowered shares of AppLovin from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Oppenheimer decreased their price objective on shares of AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a research report on Thursday, March 5th. Finally, Scotiabank upped their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $664.35.

AppLovin Price Performance

Shares of NASDAQ APP opened at $481.68 on Monday. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm's 50 day simple moving average is $446.31 and its two-hundred day simple moving average is $523.19. The stock has a market capitalization of $161.82 billion, a P/E ratio of 41.38, a PEG ratio of 0.78 and a beta of 2.37.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the business earned $1.67 earnings per share. The business's revenue was up 58.9% on a year-over-year basis. As a group, analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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