National Bank of Canada FI Sells 46,045 Shares of AppLovin Corporation (NASDAQ:APP)

National Bank of Canada FI lowered its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 97.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,305 shares of the company's stock after selling 46,045 shares during the period. National Bank of Canada FI's holdings in AppLovin were worth $346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin in the 4th quarter worth about $25,000. Atala Financial Inc bought a new position in AppLovin in the 1st quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in AppLovin during the 1st quarter worth approximately $29,000. Alpine Bank Wealth Management acquired a new stake in AppLovin during the 1st quarter worth approximately $27,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in AppLovin during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on APP shares. Wells Fargo & Company lifted their price target on shares of AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Zacks Research raised AppLovin to a "strong-buy" rating in a research report on Friday, August 8th. Piper Sandler upped their price target on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Finally, Jefferies Financial Group boosted their price objective on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $472.33.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the sale, the director owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 100,000 shares of AppLovin stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,760,363 shares in the company, valued at approximately $1,014,461,006.13. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 925,398 shares of company stock worth $392,582,738 in the last ninety days. Corporate insiders own 13.66% of the company's stock.

AppLovin Trading Up 1.2%

Shares of APP opened at $438.68 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a 1-year low of $82.51 and a 1-year high of $525.15. The company has a market capitalization of $148.38 billion, a P/E ratio of 62.31, a P/E/G ratio of 2.45 and a beta of 2.43. The firm's 50 day simple moving average is $370.82 and its 200 day simple moving average is $343.07.

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, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm posted $0.89 EPS. The firm's revenue was up 77.1% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Profile

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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