LGT Group Foundation Sells 290 Shares of AppLovin Corporation (NASDAQ:APP)

LGT Group Foundation trimmed its stake in AppLovin Corporation (NASDAQ:APP) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,611 shares of the company’s stock after selling 290 shares during the period. LGT Group Foundation’s holdings in AppLovin were worth $4,666,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of APP. Forum Financial Management LP grew its holdings in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after purchasing an additional 33 shares during the last quarter. Vestcor Inc lifted its stake in shares of AppLovin by 0.8% during the first quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after acquiring an additional 33 shares during the period. Argentarii LLC lifted its stake in shares of AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company’s stock valued at $699,000 after acquiring an additional 40 shares during the period. Atlas Capital Advisors Inc. lifted its stake in shares of AppLovin by 11.3% during the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock valued at $104,000 after acquiring an additional 40 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $97,000 after acquiring an additional 43 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APP. HSBC set a $436.00 price target on AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Benchmark reissued a “buy” rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. UBS Group increased their target price on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $472.33.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,734 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $353.41, for a total transaction of $6,267,372.94. Following the transaction, the chief technology officer owned 70,889 shares of the company’s stock, valued at $25,052,881.49. The trade was a 20.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 513 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the transaction, the director directly owned 3,451 shares in the company, valued at $1,450,455.30. This trade represents a 12.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 400,398 shares of company stock worth $151,712,641. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Up 0.3%

NASDAQ APP opened at $467.00 on Wednesday. The stock has a market capitalization of $158.03 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 2.60 and a beta of 2.43. The stock’s 50 day moving average price is $369.42 and its two-hundred day moving average price is $341.34. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 52 week low of $75.89 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.