CHICAGO TRUST Co NA Sells 1,010 Shares of AppLovin Corporation $APP

CHICAGO TRUST Co NA decreased its holdings in AppLovin Corporation (NASDAQ:APP) by 30.8% in the first quarter, Holdings Channel.com reports. The firm owned 2,272 shares of the company’s stock after selling 1,010 shares during the period. CHICAGO TRUST Co NA’s holdings in AppLovin were worth $904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Board of the Pension Protection Fund bought a new position in shares of AppLovin during the fourth quarter valued at about $27,000. Washington Trust Advisors Inc. lifted its stake in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin during the 4th quarter valued at about $32,000. Finally, First Pacific Financial purchased a new stake in AppLovin during the 1st quarter valued at about $33,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 389,924 shares of company stock worth $195,693,875 over the last 90 days. 13.66% of the stock is currently owned by insiders.

AppLovin Trading Up 9.6%

NASDAQ APP opened at $564.61 on Thursday. The firm has a market capitalization of $189.68 billion, a PE ratio of 48.51, a P/E/G ratio of 0.83 and a beta of 2.49. The stock’s 50 day moving average is $499.89 and its 200 day moving average is $505.63. AppLovin Corporation has a twelve month low of $325.58 and a twelve month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 EPS. Research analysts forecast that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APP. UBS Group decreased their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Company raised their target price on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Finally, Wedbush reiterated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Two analysts have 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $668.27.

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.