Legacy Capital Wealth Partners LLC Reduces Stake in AppLovin Corporation $APP

Legacy Capital Wealth Partners LLC cut its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,312 shares of the company’s stock after selling 224 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in AppLovin were worth $459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in AppLovin by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock valued at $6,267,410,000 after purchasing an additional 72,120 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of AppLovin by 36.7% during 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 purchasing an additional 1,769,400 shares in the last quarter. Invesco Ltd. boosted its stake in shares of AppLovin by 32.9% during the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock valued at $1,062,876,000 after purchasing an additional 992,316 shares in the last quarter. Kensico Capital Management Corp increased its position in shares of AppLovin by 12.9% during the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after buying an additional 328,000 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of AppLovin by 12.0% during the first quarter. Fred Alger Management LLC now owns 2,833,792 shares of the company’s stock valued at $750,870,000 after buying an additional 303,063 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 30,888 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the sale, the director directly owned 7,133,292 shares of the company’s stock, valued at $4,643,131,095.72. This trade represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 367,927 shares of company stock worth $212,707,362. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Up 2.5%

NASDAQ APP opened at $601.00 on Friday. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock’s fifty day moving average price is $607.52 and its 200-day moving average price is $479.49. The stock has a market cap of $203.11 billion, a P/E ratio of 72.94, a P/E/G ratio of 3.22 and a beta of 2.50.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. AppLovin’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. AppLovin has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on APP shares. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company increased their target price on AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group increased their price objective on AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Twenty-one analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $658.27.

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.