Strategic Global Advisors LLC Sells 8,024 Shares of AppLovin Corporation $APP

Strategic Global Advisors LLC trimmed its position in AppLovin Corporation (NASDAQ:APP) by 51.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,501 shares of the company’s stock after selling 8,024 shares during the quarter. Strategic Global Advisors LLC’s holdings in AppLovin were worth $5,054,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in APP. Revolve Wealth Partners LLC bought a new stake in shares of AppLovin in the fourth quarter worth about $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin in the fourth quarter worth about $239,000. Integrated Wealth Concepts LLC increased its holdings in shares of AppLovin by 58.0% in the first 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 increased its holdings in shares of AppLovin by 5.7% in the second 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 holdings in shares of AppLovin by 7.2% in the second 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 during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the business’s 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 sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,014 shares of company stock valued at $113,073,400 over the last ninety days. 13.66% of the stock is currently owned by company insiders.

Key AppLovin News

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APP shares. Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Citigroup reaffirmed a “buy” rating and issued a $710.00 target price on shares of AppLovin in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Oppenheimer reduced their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Finally, Argus started coverage on AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. One 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $496.77 on Monday. The business’s 50 day moving average is $482.88 and its two-hundred day moving average is $520.57. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The stock has a market capitalization of $166.88 billion, a P/E ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45.

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

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.