Invst LLC Sells 3,280 Shares of AppLovin Corporation $APP

Key Points

• Invst LLC reduced its stake in AppLovin Corporation by 44.5%, selling 3,280 shares and retaining 4,083 shares valued at approximately $1,082,000.
• Insider trading activity included two directors selling a combined total of 325,000 shares for over $144 million, leading to a decrease in their ownership percentages.
• AppLovin reported earnings of $2.26 per share, beating estimates, but had revenue of $1.26 billion, which was below expectations.

Invst LLC cut its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 44.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,083 shares of the company's stock after selling 3,280 shares during the period. Invst LLC's holdings in AppLovin were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Atala Financial Inc bought a new position in shares of AppLovin in the first quarter worth about $26,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin in the first quarter worth about $29,000. Alpine Bank Wealth Management bought a new position in shares of AppLovin in the first quarter worth about $27,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of AppLovin in the first quarter worth about $29,000. Finally, SouthState Corp bought a new position in shares of AppLovin in the first quarter worth about $29,000. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares in the company, valued at $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the transaction, the director owned 181,929 shares in the company, valued at approximately $78,682,473.21. This trade represents a 52.37% 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 valued at $514,863,333. 13.66% of the stock is owned by company insiders.

AppLovin Stock Performance

APP stock opened at $571.31 on Friday. The firm has a market cap of $193.25 billion, a price-to-earnings ratio of 81.15, a PEG ratio of 3.17 and a beta of 2.44. The firm has a 50-day simple moving average of $419.67 and a two-hundred day simple moving average of $352.06. AppLovin Corporation has a one year low of $97.35 and a one year high of $576.44. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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 firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. On average, equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

APP has been the subject of a number of research reports. Wedbush reaffirmed an "outperform" rating and issued a $620.00 price objective on shares of AppLovin 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. Wells Fargo & Company upped their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Jefferies Financial Group upped their price objective on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Piper Sandler upped their price objective on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $482.86.

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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