AppLovin Co. (NASDAQ:APP) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its holdings in shares of AppLovin Co. (NASDAQ:APP) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,301 shares of the company’s stock after selling 339 shares during the quarter. Apollon Wealth Management LLC’s holdings in AppLovin were worth $431,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in APP. WCM Investment Management LLC boosted its position in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. Lone Pine Capital LLC boosted its position in shares of AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares during the period. Jericho Capital Asset Management L.P. boosted its position in shares of AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares during the period. Fred Alger Management LLC acquired a new stake in shares of AppLovin in the 2nd quarter valued at about $290,655,000. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin in the 1st quarter valued at about $195,129,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

NASDAQ APP opened at $291.09 on Monday. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $302.55. The company has a market capitalization of $97.69 billion, a P/E ratio of 88.21, a PEG ratio of 3.58 and a beta of 1.86. The business has a 50 day moving average price of $159.14 and a 200 day moving average price of $109.11. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. Sell-side analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on APP shares. Bank of America upped their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Benchmark reaffirmed a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $194.31.

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.