Atria Investments Inc Trims Stake in AppLovin Corporation $APP

Atria Investments Inc decreased its position in shares of AppLovin Corporation (NASDAQ:APP) by 16.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,833 shares of the company’s stock after selling 2,000 shares during the period. Atria Investments Inc’s holdings in AppLovin were worth $3,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APP. Legal Advantage Investments Inc. bought a new position in AppLovin during the 2nd quarter valued at about $1,523,000. Park Avenue Securities LLC lifted its stake in AppLovin by 30.6% during the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after acquiring an additional 4,890 shares during the period. Aberdeen Group plc lifted its stake in AppLovin by 6.5% during the 2nd quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after acquiring an additional 7,001 shares during the period. IFM Investors Pty Ltd lifted its stake in AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after acquiring an additional 6,104 shares during the period. Finally, Lee Johnson Capital Management LLC lifted its stake in AppLovin by 13.6% during the 2nd quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock valued at $4,358,000 after acquiring an additional 1,491 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 350 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the sale, the director owned 3,150 shares in the company, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last quarter. 13.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler upped their target price on shares of AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Morgan Stanley upped their target price on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Oppenheimer set a $740.00 price objective on shares of AppLovin in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $606.39.

AppLovin Trading Up 2.7%

NASDAQ:APP opened at $637.33 on Monday. AppLovin Corporation has a one year low of $158.33 and a one year high of $745.61. The firm has a market capitalization of $215.58 billion, a price-to-earnings ratio of 90.53, a price-to-earnings-growth ratio of 3.46 and a beta of 2.50. The business has a fifty day moving average price of $589.79 and a 200-day moving average price of $439.88. 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 released its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business earned $0.89 EPS. The firm’s revenue was up 77.1% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

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.