K2 Principal Fund L.P. Has $2.85 Million Stock Holdings in AppLovin Corporation $APP

K2 Principal Fund L.P. cut its holdings in AppLovin Corporation (NASDAQ:APP) by 26.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,232 shares of the company’s stock after selling 1,556 shares during the quarter. K2 Principal Fund L.P.’s holdings in AppLovin were worth $2,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Redhawk Wealth Advisors Inc. boosted its position in shares of AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the period. Claro Advisors LLC boosted its position in shares of AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after buying an additional 20 shares during the period. Strategic Advocates LLC boosted its position in shares of AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after buying an additional 21 shares during the period. Finally, Finivi Inc. boosted its position in shares of AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after buying an additional 22 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 28th. Wedbush reaffirmed an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Wells Fargo & Company upped their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $669.62.

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 Stock Performance

Shares of NASDAQ APP opened at $496.77 on Friday. The stock has a 50 day moving average price of $482.88 and a 200 day moving average price of $520.84. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a market capitalization of $166.88 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 0.81 and a beta of 2.45.

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

Insider Buying and Selling at AppLovin

In related news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 8,112 shares of AppLovin stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $483.67, for a total value of $3,923,531.04. Following the sale, the chief technology officer directly owned 18,805 shares of the company’s stock, valued at approximately $9,095,414.35. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 389,924 shares of company stock worth $187,404,946 in the last 90 days. Company insiders own 13.66% of the company’s stock.

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.