Truvestments Capital LLC Sells 828 Shares of AppLovin Corporation $APP

Key Points

• Truvestments Capital LLC reduced its stake in AppLovin Corporation by 15.8%, selling 828 shares during the first quarter, bringing its total ownership to 4,408 shares valued at $1,168,000.
• In the same quarter, several large investors increased their positions in AppLovin, with Vanguard Group Inc. raising its holdings by 7.3% and Price T Rowe Associates Inc. boosting theirs by 36.7%.
• AppLovin reported a net margin of 45.72% and a year-over-year revenue increase of 77.1% despite facing a revenue miss of $1.26 billion against the expected $1.37 billion.

Truvestments Capital LLC cut its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,408 shares of the company's stock after selling 828 shares during the period. Truvestments Capital LLC's holdings in AppLovin were worth $1,168,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after buying an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the period. Baillie Gifford & Co. boosted its stake in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the period. Invesco Ltd. boosted its stake in shares of AppLovin by 32.9% during the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock worth $1,062,876,000 after purchasing an additional 992,316 shares during the period. Finally, Dynasty Wealth Management LLC boosted its stake in shares of AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after purchasing an additional 2,700,399 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 30,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the sale, the chief technology officer owned 3,360,104 shares of the company's stock, valued at $1,470,280,707.28. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares of the company's stock, valued at $3,394,014,072. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,221,152 shares of company stock worth $538,490,378. Company insiders own 13.66% of the company's stock.

AppLovin Trading Up 4.1%

NASDAQ APP opened at $469.33 on Wednesday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market capitalization of $158.75 billion, a price-to-earnings ratio of 66.67, a price-to-earnings-growth ratio of 2.52 and a beta of 2.43. The company's 50-day simple moving average is $379.16 and its two-hundred day simple moving average is $346.11. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company's revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. Equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on APP. Benchmark reaffirmed a "buy" rating and set a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Citigroup reiterated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Scotiabank lifted their price objective on shares of AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $472.86.

AppLovin Company 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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