AppLovin Corporation $APP Shares Sold by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,173 shares of the company’s stock after selling 59 shares during the quarter. Quadcap Wealth Management LLC’s holdings in AppLovin were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new position in shares of AppLovin during the 1st quarter valued at $26,000. Alpine Bank Wealth Management bought a new position in AppLovin during the first quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new position in AppLovin during the first quarter worth about $29,000. Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin during the first quarter worth about $29,000. Finally, SouthState Corp bought a new stake in AppLovin in the first quarter worth about $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Thursday, May 29th. Benchmark restated a “buy” rating and issued a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. Wedbush reaffirmed an “outperform” rating and issued a $620.00 price target on shares of AppLovin in a report on Thursday, August 7th. Finally, BTIG Research increased their price objective on AppLovin from $480.00 to $483.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $472.86.

AppLovin Stock Down 1.4%

APP stock opened at $462.94 on Thursday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market capitalization of $156.59 billion, a P/E ratio of 65.76, a P/E/G ratio of 2.62 and a beta of 2.43. AppLovin Corporation has a 52-week low of $82.51 and a 52-week high of $525.15. The company’s 50 day simple moving average is $381.53 and its 200-day simple moving average is $346.92.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. As a group, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction dated 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 sale, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $464.69, for a total value of $92,938,000.00. Following the sale, the director owned 381,929 shares of the company’s stock, valued at $177,478,587.01. The trade was a 34.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,236,152 shares of company stock valued at $545,240,378 over the last ninety days. Corporate 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.