Itau Unibanco Holding S.A. Has $73,000 Holdings in AppLovin Corporation $APP

Itau Unibanco Holding S.A. cut its position in shares of AppLovin Corporation (NASDAQ:APP) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 277 shares of the company’s stock after selling 31 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in AppLovin were worth $73,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its holdings in AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock worth $45,675,000 after buying an additional 66,453 shares during the last quarter. Yousif Capital Management LLC increased its holdings in AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after buying an additional 119 shares during the last quarter. Peak Retirement Planning Inc. purchased a new stake in AppLovin during the fourth quarter worth about $969,000. Finally, Assenagon Asset Management S.A. increased its holdings in AppLovin by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock worth $1,106,000 after buying an additional 121 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on APP shares. Citigroup restated a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Jefferies Financial Group upped their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Tuesday. Finally, UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $478.81.

AppLovin Stock Up 4.5%

APP stock opened at $483.75 on Friday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $163.63 billion, a PE ratio of 68.71, a PEG ratio of 2.59 and a beta of 2.43. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15. The stock has a 50-day simple moving average of $384.32 and a two-hundred day simple moving average of $347.60.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $450.00, for a total value of $6,750,000.00. Following the completion of the sale, the insider directly owned 304,955 shares in the company, valued at approximately $137,229,750. The trade was a 4.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,236,152 shares of company stock valued at $545,240,378 in the last 90 days. Corporate insiders own 13.66% of the company’s stock.

About AppLovin

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.