Merit Financial Group LLC Sells 1,905 Shares of AppLovin Corporation $APP

Merit Financial Group LLC trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 21.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,974 shares of the company’s stock after selling 1,905 shares during the period. Merit Financial Group LLC’s holdings in AppLovin were worth $3,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Washington Trust Advisors Inc. increased its holdings in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin during the fourth quarter valued at approximately $32,000. Osbon Capital Management LLC purchased a new position in shares of AppLovin during the fourth quarter valued at approximately $36,000. Finally, Dogwood Wealth Management LLC grew its holdings in AppLovin by 84.4% during the fourth quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock worth $40,000 after buying an additional 27 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of AppLovin stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the sale, the chief executive officer directly owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This trade represents a 1.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is owned by insiders.

AppLovin Trading Up 0.9%

NASDAQ APP opened at $315.44 on Friday. The business’s fifty day moving average is $447.84 and its 200-day moving average is $456.06. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30. The stock has a market capitalization of $105.56 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 0.63 and a beta of 2.54. AppLovin Corporation has a one year low of $303.17 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.76. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.39 earnings per share. Equities research analysts predict that AppLovin Corporation will post 15.57 EPS for the current year.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Analyst Upgrades and Downgrades

A number of research firms recently commented on APP. Wells Fargo & Company reissued an “equal weight” rating and issued a $357.00 price target (down from $575.00) on shares of AppLovin in a research report on Thursday, August 6th. Bank of America reiterated a “neutral” rating and issued a $400.00 target price (down from $430.00) on shares of AppLovin in a research note on Tuesday. Benchmark lowered their target price on shares of AppLovin from $775.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, BTIG Research reduced their price objective on shares of AppLovin from $574.00 to $408.00 and set a “buy” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $565.91.

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.