Hsbc Holdings PLC Sells 5,587 Shares of AppLovin Corporation $APP

Hsbc Holdings PLC reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 416,887 shares of the company’s stock after selling 5,587 shares during the quarter. Hsbc Holdings PLC’s holdings in AppLovin were worth $281,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of APP. Allworth Financial LP raised its stake in shares of AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares in the last quarter. APG Asset Management N.V. acquired a new stake in AppLovin during the third quarter worth $4,958,000. Franklin Resources Inc. increased its holdings in AppLovin by 24.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock valued at $1,754,996,000 after buying an additional 487,492 shares during the period. TIAA Trust National Association increased its holdings in AppLovin by 431.7% in the 3rd quarter. TIAA Trust National Association now owns 52,749 shares of the company’s stock valued at $37,902,000 after buying an additional 42,829 shares during the period. Finally, Generate Investment Management Ltd acquired a new position in shares of AppLovin in the 4th quarter valued at $2,347,000. 41.85% of the stock is owned by institutional investors.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on 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 completion of the transaction, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the transaction, the director directly owned 123,520 shares in the company, valued at $71,893,580.80. The trade was a 2.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 389,924 shares of company stock valued at $195,693,875. Insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on APP shares. Argus assumed coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective for the company. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. UBS Group dropped their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Finally, Arete Research set a $340.00 price objective on AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $469.71 on Friday. The company’s fifty day moving average is $492.23 and its 200-day moving average is $517.80. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The company has a market capitalization of $157.79 billion, a PE ratio of 40.35, a P/E/G ratio of 0.76 and a beta of 2.45.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 58.9% on a year-over-year basis. Equities research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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.