AppLovin Corporation $APP Stake Lowered by Ieq Capital LLC

Ieq Capital LLC lowered its position in shares of AppLovin Corporation (NASDAQ:APP) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,685,398 shares of the company’s stock after selling 94,523 shares during the period. AppLovin comprises approximately 31.6% of Ieq Capital LLC’s holdings, making the stock its largest holding. Ieq Capital LLC owned about 4.64% of AppLovin worth $10,569,135,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in shares of AppLovin during the fourth quarter valued at $27,000. Washington Trust Advisors Inc. increased its stake in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the period. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin during the fourth quarter valued at $32,000. Graney & King LLC purchased a new position in shares of AppLovin during the third quarter valued at $36,000. Finally, Aventura Private Wealth LLC purchased a new position in shares of AppLovin during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $496.77 on Friday. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The stock’s 50-day moving average is $482.88 and its 200 day moving average is $520.84. The company has a market cap of $166.88 billion, a P/E ratio of 42.68, a PEG ratio of 0.78 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $1.67 earnings per share. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. Research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Wedbush restated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Argus assumed coverage on AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. This trade represents a 0.96% 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 link. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 389,924 shares of company stock valued at $187,404,946 over the last 90 days. Company insiders own 13.66% of the company’s stock.

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.