Williamson Legacy Group LLC Reduces Stock Position in AppLovin Corporation $APP

Williamson Legacy Group LLC lowered its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 34.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,071 shares of the company’s stock after selling 1,589 shares during the quarter. AppLovin accounts for 1.6% of Williamson Legacy Group LLC’s portfolio, making the stock its 23rd biggest holding. Williamson Legacy Group LLC’s holdings in AppLovin were worth $2,069,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Revolve Wealth Partners LLC bought a new stake in AppLovin during the 4th quarter valued at $294,000. Bison Wealth LLC bought a new stake in AppLovin during the 4th quarter valued at $239,000. Integrated Wealth Concepts LLC raised its position in 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 purchasing an additional 621 shares in the last quarter. NewEdge Advisors LLC raised its position in 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 purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in 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 purchasing an additional 9,380 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares of the company’s stock, valued at approximately $1,583,462,445.39. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 365,244 shares of company stock valued at $169,584,607. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Up 6.8%

APP opened at $514.24 on Wednesday. The firm has a market cap of $172.75 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 0.78 and a beta of 2.37. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The stock has a fifty day moving average price of $448.06 and a 200-day moving average price of $521.57.

AppLovin (NASDAQ:APP) last released 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS. As a group, equities research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Jefferies Financial Group decreased their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 target price on AppLovin in a research report on Thursday, February 12th. Finally, Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

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.