QVT Financial LP Sells 2,274 Shares of AppLovin Corporation $APP

QVT Financial LP decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 69.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 979 shares of the company’s stock after selling 2,274 shares during the period. QVT Financial LP’s holdings in AppLovin were worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of APP. Revolve Wealth Partners LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $239,000. Integrated Wealth Concepts LLC grew its position in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after acquiring an additional 621 shares during the period. NewEdge Advisors LLC grew its position in shares of AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after acquiring an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after acquiring an additional 9,380 shares during the period. Institutional investors own 41.85% of the company’s stock.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

AppLovin Price Performance

Shares of APP stock opened at $496.77 on Monday. The stock has a market cap of $166.88 billion, a P/E ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The company’s fifty day simple moving average is $482.88 and its two-hundred day simple moving average is $520.57.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. Analysts predict that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APP. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Citigroup reissued a “buy” rating and set a $710.00 price objective on shares of AppLovin in a research report on Monday, June 1st. Wells Fargo & Company boosted their price objective on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. UBS Group dropped their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $669.62.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 8,112 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $483.67, for a total value of $3,923,531.04. Following the sale, the chief technology officer owned 18,805 shares in the company, valued at $9,095,414.35. The trade was a 30.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 226,014 shares of company stock worth $113,073,400. 13.66% of the stock is owned by corporate insiders.

AppLovin Profile

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.