Focus Partners Advisor Solutions LLC Has $701,000 Holdings in AppLovin Corporation $APP

Focus Partners Advisor Solutions LLC cut its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 8.4% in the second quarter, HoldingsChannel reports. The fund owned 2,004 shares of the company’s stock after selling 183 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in AppLovin were worth $701,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hilltop National Bank acquired a new stake in AppLovin during the 2nd quarter worth about $26,000. SouthState Corp purchased a new stake in shares of AppLovin during the 1st quarter worth about $29,000. Cornerstone Planning Group LLC raised its stake in shares of AppLovin by 428.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the company’s stock worth $33,000 after purchasing an additional 107 shares in the last quarter. Hoey Investments Inc. purchased a new stake in shares of AppLovin during the 2nd quarter worth about $35,000. Finally, Trust Co. of Vermont purchased a new stake in shares of AppLovin during the 2nd quarter worth about $35,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on APP. BTIG Research raised their price target on AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Bank of America raised their price target on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Piper Sandler raised their price target on AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $605.13.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 30,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $626.82 on Wednesday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The business’s 50 day moving average is $577.47 and its two-hundred day moving average is $430.32. The company has a market cap of $212.02 billion, a P/E ratio of 89.04, a P/E/G ratio of 3.49 and a beta of 2.53. AppLovin Corporation has a 12 month low of $158.33 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. On average, equities analysts expect that AppLovin Corporation will post 6.87 EPS for the current 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.