Strategic Advocates LLC Has $693,000 Holdings in AppLovin Corporation (NASDAQ:APP)

Key Points

• Strategic Advocates LLC has decreased its stake in AppLovin Corporation by 38.0%, reducing its holdings to 2,615 shares valued at approximately $693,000.
• AppLovin has reported strong quarterly earnings, with an EPS of $1.67, exceeding estimates and showing a year-over-year revenue increase of 40.3%.
• Insider activity includes significant stock sales, with CFO Matthew Stumpf selling 9,714 shares for over $4 million and Director Herald Y. Chen selling 100,000 shares valued at around $42 million.

Strategic Advocates LLC lessened its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 38.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,615 shares of the company's stock after selling 1,603 shares during the period. Strategic Advocates LLC's holdings in AppLovin were worth $693,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $25,000. Atala Financial Inc acquired a new position in shares of AppLovin in the 1st quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in shares of AppLovin in the 1st quarter valued at $29,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin in the 1st quarter valued at $27,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin in the 1st quarter valued at $29,000. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 100,000 shares of AppLovin stock in a transaction dated 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 owned 2,760,363 shares in the company, valued at approximately $1,014,461,006.13. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the transaction, the chief technology officer owned 70,889 shares of the company's stock, valued at $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Down 3.0%

APP stock traded down $11.53 during trading hours on Friday, reaching $379.17. 6,325,484 shares of the stock were exchanged, compared to its average volume of 3,866,259. The firm's 50-day moving average is $363.45 and its 200-day moving average is $337.53. The company has a market cap of $128.31 billion, a price-to-earnings ratio of 68.44, a PEG ratio of 2.33 and a beta of 2.43. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $0.67 EPS. The company's quarterly revenue was up 40.3% on a year-over-year basis. On average, equities research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of a number of analyst reports. Benchmark reissued a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. BTIG Research upped their price objective on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Wall Street Zen upgraded shares of AppLovin from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $447.57.

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.