AppLovin Corporation $APP Position Lessened by Lido Advisors LLC

Lido Advisors LLC decreased its position in shares of AppLovin Corporation (NASDAQ:APP) by 35.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,587 shares of the company’s stock after selling 4,752 shares during the period. Lido Advisors LLC’s holdings in AppLovin were worth $3,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. increased its position in AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after purchasing an additional 18 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the last quarter. Finivi Inc. lifted its holdings in shares of AppLovin by 3.2% during the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after buying an additional 22 shares during the last quarter. Alta Wealth Advisors LLC grew its stake in shares of AppLovin by 0.6% in the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after buying an additional 24 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its stake in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 in the last ninety days. 12.81% of the stock is owned by insiders.

AppLovin Stock Down 1.7%

Shares of AppLovin stock opened at $391.98 on Friday. The stock has a market capitalization of $131.68 billion, a P/E ratio of 33.68, a PEG ratio of 0.64 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. The stock has a 50 day moving average price of $498.97 and a two-hundred day moving average price of $480.08. AppLovin Corporation has a 12-month low of $357.03 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last announced 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. 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 the consensus estimate of $1.77 billion. During the same quarter last year, the company posted $1.67 earnings per share. The company’s revenue for the quarter was up 58.9% compared to the same quarter last year. Equities analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Raymond James Financial started coverage on shares of AppLovin in a research note on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target on the stock. Weiss Ratings downgraded shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Finally, UBS Group reduced their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $668.45.

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.