Venture Visionary Partners LLC Cuts Stock Holdings in AppLovin Corporation $APP

Key Points

• Venture Visionary Partners LLC reduced its holdings in AppLovin Corporation by 49.1%, now owning 10,864 shares valued at approximately $2.87 million.
• Despite a disappointing quarterly report, AppLovin's stock has received several analyst upgrades, with target prices now ranging from $425 to $525.
• Insiders sold a total of 1,022,214 shares of AppLovin stock last quarter, valued at nearly $448.3 million, indicating significant activity among company executives.

Venture Visionary Partners LLC trimmed its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 49.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,864 shares of the company's stock after selling 10,494 shares during the quarter. Venture Visionary Partners LLC's holdings in AppLovin were worth $2,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after acquiring an additional 1,213,536 shares during the last quarter. Baillie Gifford & Co. raised 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. raised 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. Dynasty Wealth Management LLC raised 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. Finally, Jennison Associates LLC raised its stake in shares of AppLovin by 86.5% during the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock worth $632,478,000 after purchasing an additional 1,107,104 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Down 5.9%

Shares of AppLovin stock opened at $412.60 on Wednesday. AppLovin Corporation has a 52-week low of $82.51 and a 52-week high of $525.15. The stock's 50-day simple moving average is $372.50 and its 200 day simple moving average is $343.87. The stock has a market capitalization of $139.56 billion, a P/E ratio of 58.61, a P/E/G ratio of 2.45 and a beta of 2.43. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) 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 period in the previous year, the business posted $0.89 EPS. The firm's quarterly revenue was up 77.1% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent analyst reports. BTIG Research lifted their target price on AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Scotiabank lifted their target price on AppLovin from $430.00 to $450.00 and gave the stock a "sector outperform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Benchmark reiterated a "buy" rating and set a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group lifted their target price on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Two research 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 given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $472.33.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of AppLovin stock in a transaction dated 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 transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $464.69, for a total value of $92,938,000.00. Following the transaction, the director directly owned 381,929 shares of the company's stock, valued at $177,478,587.01. The trade was a 34.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,022,214 shares of company stock valued at $448,294,925 in the last quarter. 13.66% of the stock is currently owned by corporate insiders.

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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