Whipplewood Advisors LLC Sells 750 Shares of AppLovin Corporation $APP

Whipplewood Advisors LLC reduced its stake in AppLovin Corporation (NASDAQ:APP) by 20.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,000 shares of the company’s stock after selling 750 shares during the period. Whipplewood Advisors LLC’s holdings in AppLovin were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Linden Thomas Advisory Services LLC boosted its stake in shares of AppLovin by 2.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 21,042 shares of the company’s stock valued at $7,366,000 after buying an additional 551 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in shares of AppLovin in the second quarter valued at approximately $429,000. AG2R LA Mondiale Gestion D Actifs boosted its stake in shares of AppLovin by 8.4% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,731 shares of the company’s stock valued at $3,057,000 after buying an additional 679 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of AppLovin by 10.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 78,365 shares of the company’s stock valued at $27,434,000 after buying an additional 7,626 shares during the period. Finally, AlphaQuest LLC boosted its stake in shares of AppLovin by 1,143.9% in the second quarter. AlphaQuest LLC now owns 510 shares of the company’s stock valued at $179,000 after buying an additional 469 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their target price on AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Piper Sandler increased their price target on AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. increased their price target on AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Citigroup raised their target price on AppLovin from $600.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, BTIG Research raised their target price on AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $605.13.

AppLovin Stock Performance

APP stock opened at $620.00 on Friday. The stock has a 50-day moving average price of $569.09 and a 200-day moving average price of $424.16. AppLovin Corporation has a 1-year low of $158.33 and a 1-year high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market cap of $209.72 billion, a PE ratio of 88.07, a price-to-earnings-growth ratio of 3.37 and a beta of 2.53.

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

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the transaction, the chief executive officer owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

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.