Insight Holdings Group LLC Sells 4,640 Shares of AppLovin Corporation $APP

Key Points

• Insight Holdings Group cut its AppLovin position by 27.5% in the fourth quarter, selling 4,640 shares and leaving it with 12,260 shares valued at about $8.26 million.
• Insider selling has been notable, with CEO Arash Adam Foroughi and CFO Matthew Stumpf both reducing their stakes; company insiders sold 226,014 shares worth roughly $113.1 million in the last quarter.
• Wall Street remains broadly positive on AppLovin, with a consensus rating of Moderate Buy and an average price target of $669.62, while the stock recently traded at $479.49 after strong quarterly earnings beat expectations.

Insight Holdings Group LLC decreased its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 27.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,260 shares of the company's stock after selling 4,640 shares during the period. AppLovin comprises approximately 0.6% of Insight Holdings Group LLC's portfolio, making the stock its 17th biggest holding. Insight Holdings Group LLC's holdings in AppLovin were worth $8,261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company's stock worth $16,926,746,000 after purchasing an additional 166,117 shares during the last quarter. State Street Corp grew its holdings in shares of AppLovin by 0.4% in the fourth quarter. State Street Corp now owns 11,904,843 shares of the company's stock worth $8,021,721,000 after purchasing an additional 52,377 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AppLovin by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company's stock worth $4,817,269,000 after purchasing an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in AppLovin by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company's stock valued at $4,103,386,000 after acquiring an additional 212,349 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in AppLovin by 10.7% in the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company's stock valued at $3,747,551,000 after acquiring an additional 538,806 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. The trade was a 0.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 226,014 shares of company stock worth $113,073,400. 13.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

APP has been the topic of several recent analyst reports. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. Benchmark reiterated a "buy" rating on shares of AppLovin in a report on Wednesday, June 10th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of AppLovin in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $669.62.

AppLovin Stock Performance

Shares of APP stock opened at $479.49 on Thursday. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The stock has a market cap of $161.08 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 0.84 and a beta of 2.45. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company's fifty day moving average price is $489.48 and its 200-day moving average price is $519.07.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the business posted $1.67 EPS. The company's quarterly revenue was up 58.9% on a year-over-year basis. On average, equities analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

AppLovin Company 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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