Dakota Wealth Management Sells 9,731 Shares of AppLovin Co. (NASDAQ:APP)

Dakota Wealth Management lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 16.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,856 shares of the company’s stock after selling 9,731 shares during the quarter. Dakota Wealth Management’s holdings in AppLovin were worth $4,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WCM Investment Management LLC acquired a new stake in shares of AppLovin in the 1st quarter worth $497,488,000. Sapient Capital LLC acquired a new stake in shares of AppLovin in the 4th quarter worth $165,057,000. Jericho Capital Asset Management L.P. raised its stake in AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in AppLovin in the 1st quarter worth $195,129,000. Finally, First Trust Advisors LP raised its stake in AppLovin by 42.6% in the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after acquiring an additional 686,258 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock traded up $0.99 during trading on Tuesday, hitting $86.81. The stock had a trading volume of 1,289,767 shares, compared to its average volume of 4,115,115. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $91.91. The stock has a market capitalization of $28.56 billion, a P/E ratio of 51.08, a PEG ratio of 1.27 and a beta of 1.86. The company’s 50-day moving average price is $80.06 and its two-hundred day moving average price is $73.18.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. AppLovin’s revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. As a group, research analysts predict that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BTIG Research raised their target price on AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. The Goldman Sachs Group raised their target price on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Jefferies Financial Group lifted their price objective on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus lifted their price objective on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.94.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 4,371 shares of AppLovin stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total transaction of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at approximately $874,892.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Dawson Alyssa Harvey sold 4,371 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.65, for a total transaction of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at $874,892.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total value of $235,159.30. Following the sale, the insider now directly owns 448,490 shares in the company, valued at approximately $36,493,631.30. The disclosure for this sale can be found here. Insiders have sold a total of 409,350 shares of company stock worth $34,147,941 in the last ninety days. Insiders own 14.69% of the company’s stock.

AppLovin Company 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.