Regal Partners Ltd Sells 1,425 Shares of AppLovin Corporation (NASDAQ:APP)

Key Points

• Regal Partners Ltd has significantly reduced its stake in AppLovin Corporation by 57%, now holding 1,075 shares worth approximately $285,000.
• Several institutional investors have increased their stakes in AppLovin, with Vanguard Group Inc. growing its position by 7.3% and Dynasty Wealth Management LLC dramatically boosting its stake by 117,664.4% in the first quarter.
• AppLovin's latest quarterly report showed earnings of $2.26 per share, surpassing analyst expectations, although its revenue of $1.26 billion fell short of the $1.37 billion forecast.

Regal Partners Ltd reduced its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 57.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,075 shares of the company's stock after selling 1,425 shares during the period. Regal Partners Ltd's holdings in AppLovin were worth $285,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Forum Financial Management LP raised its stake in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after buying an additional 33 shares in the last quarter. Vestcor Inc raised its position in AppLovin by 0.8% during the first quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after acquiring an additional 33 shares during the last quarter. Argentarii LLC raised its position in AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after acquiring an additional 40 shares during the last quarter. Atlas Capital Advisors Inc. raised its position in AppLovin by 11.3% during the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock worth $104,000 after acquiring an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after buying an additional 43 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 2.9%

Shares of AppLovin stock traded down $13.06 on Thursday, reaching $433.34. 4,999,386 shares of the company were exchanged, compared to its average volume of 7,185,538. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The company has a market capitalization of $146.64 billion, a price-to-earnings ratio of 61.55, a PEG ratio of 2.61 and a beta of 2.43. 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 50-day moving average of $370.02 and a 200 day moving average of $342.07.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The firm's revenue for the quarter was up 77.1% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

APP has been the subject of a number of recent research reports. HSBC set a $436.00 price target on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Jefferies Financial Group boosted their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Scotiabank boosted their target price on shares of AppLovin from $430.00 to $450.00 and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Finally, Piper Sandler upped their price target on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $472.33.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,734 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $353.41, for a total value of $6,267,372.94. Following the sale, the chief technology officer directly owned 70,889 shares of the company's stock, valued at $25,052,881.49. This trade represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the sale, the director directly owned 9,510 shares in the company, valued at $3,637,194.60. This trade represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 400,398 shares of company stock worth $151,712,641 in the last quarter. 13.66% of the stock is currently owned by corporate insiders.

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.