Regal Partners Ltd Has $1.02 Million Holdings in AppLovin Corporation $APP

Regal Partners Ltd lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 65.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,552 shares of the company’s stock after selling 4,886 shares during the quarter. Regal Partners Ltd’s holdings in AppLovin were worth $1,016,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

APP has been the subject of several analyst reports. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. UBS Group decreased their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Wedbush reaffirmed an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Finally, Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $668.45.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 393,000 shares of company stock valued at $197,297,363 in the last three months. 12.81% of the stock is currently owned by corporate insiders.

AppLovin Stock Up 1.3%

Shares of NASDAQ APP opened at $418.22 on Wednesday. The firm’s 50-day simple moving average is $496.20 and its 200 day simple moving average is $476.06. The company has a market cap of $140.50 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $358.55 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue was up 58.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. On average, research analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

AppLovin Company 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.