AppLovin Co. (NASDAQ:APP) Position Decreased by Annex Advisory Services LLC

Annex Advisory Services LLC reduced its holdings in AppLovin Co. (NASDAQ:APP) by 99.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786 shares of the company’s stock after selling 167,283 shares during the quarter. Annex Advisory Services LLC’s holdings in AppLovin were worth $208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC purchased a new stake in shares of AppLovin during the fourth quarter valued at $294,000. DAVENPORT & Co LLC acquired a new stake in AppLovin during the 4th quarter worth about $578,000. U.S. Capital Wealth Advisors LLC purchased a new stake in AppLovin during the fourth quarter valued at about $204,000. Yousif Capital Management LLC boosted its holdings in shares of AppLovin by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,425 shares of the company’s stock worth $1,109,000 after buying an additional 132 shares during the period. Finally, GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the fourth quarter worth approximately $25,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

NASDAQ APP opened at $417.89 on Friday. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock’s 50-day moving average is $311.16 and its two-hundred day moving average is $332.29. The firm has a market cap of $141.41 billion, a P/E ratio of 92.05, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the sale, the director now owns 3,451 shares in the company, valued at $1,450,455.30. This represents a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Herald Y. Chen sold 400,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares in the company, valued at $82,867,103.49. This trade represents a 64.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,228,968 shares of company stock worth $458,718,165. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Jefferies Financial Group lifted their price target on AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Thursday, May 29th. FBN Securities began coverage on AppLovin in a research report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $436.10.

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.