Optiver Holding B.V. Sells 2,110 Shares of AppLovin Corporation $APP

Optiver Holding B.V. cut its stake in AppLovin Corporation (NASDAQ:APP) by 49.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,137 shares of the company’s stock after selling 2,110 shares during the period. Optiver Holding B.V.’s holdings in AppLovin were worth $1,536,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new position in shares of AppLovin in the 3rd quarter worth about $29,000. Activest Wealth Management raised its holdings in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new stake in AppLovin in the 3rd quarter worth approximately $33,000. CBIZ Investment Advisory Services LLC boosted its stake in AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after buying an additional 17 shares in the last quarter. Finally, Bogart Wealth LLC grew its position in AppLovin by 100.0% during the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 7.2%

NASDAQ APP opened at $421.60 on Thursday. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The stock has a market capitalization of $142.48 billion, a PE ratio of 43.24, a PEG ratio of 0.81 and a beta of 2.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The business’s 50-day moving average is $550.18 and its 200 day moving average is $571.84.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 EPS. Sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the sale, the insider owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director directly owned 2,829 shares in the company, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APP. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Monday, February 2nd. JPMorgan Chase & Co. raised their price objective on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings raised AppLovin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, The Goldman Sachs Group dropped their target price on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Twenty-one investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $651.77.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.