Independent Solutions Wealth Management LLC Reduces Position in AppLovin Corporation $APP

Independent Solutions Wealth Management LLC lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 12.8% during the 4th quarter, Holdings Channel reports. The firm owned 10,836 shares of the company’s stock after selling 1,597 shares during the quarter. AppLovin comprises approximately 1.3% of Independent Solutions Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. Independent Solutions Wealth Management LLC’s holdings in AppLovin were worth $7,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of APP. Revolve Wealth Partners LLC purchased a new stake in AppLovin during the 4th quarter worth approximately $294,000. Bison Wealth LLC purchased a new stake in AppLovin during the 4th quarter worth approximately $239,000. Integrated Wealth Concepts LLC grew its position in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares during the last quarter. NewEdge Advisors LLC grew its position in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $501.00 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a 50 day simple moving average of $447.26 and a two-hundred day simple moving average of $529.13. The stock has a market cap of $168.31 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 0.81 and a beta of 2.37.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business posted $1.67 EPS. The business’s revenue was up 58.9% compared to the same quarter last year. As a group, analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 in the last three months. Company insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of several research analyst reports. Oppenheimer dropped their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Benchmark restated a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. The Goldman Sachs Group decreased their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Jefferies Financial Group decreased their price objective on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, BTIG Research restated a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.