AppLovin Corporation $APP Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC lowered its stake in AppLovin Corporation (NASDAQ:APP) by 20.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,916 shares of the company’s stock after selling 502 shares during the quarter. Simplicity Wealth LLC’s holdings in AppLovin were worth $671,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kingswood Wealth Advisors LLC lifted its holdings in AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after purchasing an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock valued at $45,675,000 after acquiring an additional 66,453 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in AppLovin by 30.6% in the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after acquiring an additional 4,890 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock valued at $939,000 after acquiring an additional 119 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in AppLovin by 15.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after acquiring an additional 6,104 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the transaction, the insider owned 269,955 shares in the company, valued at $135,579,499.65. This represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 over the last ninety days. 13.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on APP. Oppenheimer set a $740.00 price target on shares of AppLovin in a report on Tuesday. Piper Sandler upped their price target on shares of AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Jefferies Financial Group upped their price target on shares of AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a report on Friday, September 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a report on Saturday, September 27th. Finally, Wedbush upped their price objective on shares of AppLovin from $725.00 to $745.00 and gave the company an “outperform” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $579.81.

AppLovin Price Performance

Shares of APP opened at $631.85 on Wednesday. The company has a market capitalization of $213.72 billion, a price-to-earnings ratio of 89.75, a P/E/G ratio of 3.22 and a beta of 2.53. AppLovin Corporation has a fifty-two week low of $139.40 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The business’s 50-day moving average is $524.30 and its 200-day moving average is $395.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm’s quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Equities research analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Company 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.