Lbp Am Sa Sells 334 Shares of AppLovin Corporation $APP

Lbp Am Sa decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,044 shares of the company’s stock after selling 334 shares during the period. Lbp Am Sa’s holdings in AppLovin were worth $8,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vestcor Inc raised its position in shares of AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after purchasing an additional 33 shares during the period. Fortitude Family Office LLC raised its position in shares of AppLovin by 32.7% during the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock valued at $48,000 after purchasing an additional 34 shares during the period. GSG Advisors LLC raised its position in shares of AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock valued at $2,820,000 after purchasing an additional 35 shares during the period. Argentarii LLC raised its position in shares of AppLovin by 1.5% during the 1st quarter. Argentarii LLC now owns 2,638 shares of the company’s stock valued at $699,000 after purchasing an additional 40 shares during the period. Finally, Atlas Capital Advisors Inc. raised its position in shares of AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock valued at $104,000 after purchasing an additional 40 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Zacks Research raised shares of AppLovin to a “strong-buy” rating in a research note on Friday, August 8th. Scotiabank reaffirmed an “outperform” rating on shares of AppLovin in a research note on Thursday, August 28th. Finally, Bank of America raised their target price on shares of AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $578.86.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $704.09 on Thursday. AppLovin Corporation has a 52 week low of $128.50 and a 52 week high of $745.61. The stock has a market capitalization of $238.16 billion, a P/E ratio of 100.01, a PEG ratio of 3.94 and a beta of 2.52. The firm has a fifty day simple moving average of $501.73 and a two-hundred day simple moving average of $385.43. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the sale, the director owned 181,929 shares of the company’s stock, valued at $78,682,473.21. This trade represents a 52.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,156,788 shares of company stock worth $514,863,333. Insiders own 13.66% of the company’s stock.

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.