AppLovin Corporation $APP Shares Sold by Paragon Advisors LLC

Paragon Advisors LLC lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 30.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,669 shares of the company’s stock after selling 2,000 shares during the quarter. Paragon Advisors LLC’s holdings in AppLovin were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in AppLovin in the 4th quarter valued at about $294,000. Bison Wealth LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC grew its holdings in shares of AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after buying an additional 621 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after buying an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of AppLovin by 7.2% during 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 buying an additional 9,380 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America reissued a “neutral” rating and set a $400.00 price objective (down from $430.00) on shares of AppLovin in a research note on Tuesday, August 11th. Royal Bank Of Canada lowered their target price on shares of AppLovin from $700.00 to $575.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. BTIG Research reduced their price target on AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Piper Sandler cut AppLovin from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $665.00 to $385.00 in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $565.91.

Insiders Place Their Bets

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the transaction, the director owned 120,444 shares in the company, valued at $62,786,252.76. This represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 393,000 shares of company stock valued at $197,297,363. Company insiders own 12.81% of the company’s stock.

AppLovin Stock Up 0.9%

Shares of NASDAQ:APP opened at $315.44 on Friday. AppLovin Corporation has a 1 year low of $303.17 and a 1 year high of $745.61. The stock has a 50-day simple moving average of $447.84 and a 200-day simple moving average of $456.06. The stock has a market capitalization of $105.56 billion, a P/E ratio of 24.25, a PEG ratio of 0.63 and a beta of 2.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30.

AppLovin (NASDAQ:APP) last issued its earnings results on Tuesday, August 4th. The company reported $3.76 EPS for the quarter, meeting analysts’ consensus estimates of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $2.39 EPS. The business’s revenue for the quarter was up 52.8% compared to the same quarter last year. Equities analysts forecast that AppLovin Corporation will post 15.57 earnings per share 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.