AppLovin Corporation $APP Shares Sold by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. lowered its stake in AppLovin Corporation (NASDAQ:APP) by 60.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112 shares of the company’s stock after selling 171 shares during the period. SOA Wealth Advisors LLC.’s holdings in AppLovin were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of APP. Vanguard Group Inc. increased its holdings in shares of AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AppLovin by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after acquiring an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after acquiring an additional 1,185,859 shares during the last quarter. Invesco Ltd. increased its holdings in shares of AppLovin by 32.9% in the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock valued at $1,062,876,000 after acquiring an additional 992,316 shares during the last quarter. Finally, Kensico Capital Management Corp increased its holdings in shares of AppLovin by 12.9% in the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after acquiring an additional 328,000 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Down 0.1%

Shares of APP opened at $682.76 on Friday. The stock’s 50-day moving average is $514.58 and its two-hundred day moving average is $390.81. The stock has a market cap of $230.94 billion, a PE ratio of 96.98, a P/E/G ratio of 3.75 and a beta of 2.53. AppLovin Corporation has a 12 month low of $135.50 and a 12 month high of $745.61. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

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

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 30,000 shares of the business’s 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 transaction, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at approximately $1,103,147,536.16. This trade represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 over the last 90 days. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APP. Scotiabank reiterated an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Jefferies Financial Group raised their price target on AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Oppenheimer raised their price target on AppLovin from $500.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. BTIG Research raised their price target on AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Wedbush raised their price target on AppLovin from $620.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $578.86.

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.