Marietta Investment Partners LLC Lowers Holdings in AppLovin Corporation $APP

Marietta Investment Partners LLC lowered its holdings in AppLovin Corporation (NASDAQ:APP) by 30.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,310 shares of the company’s stock after selling 2,332 shares during the quarter. Marietta Investment Partners LLC’s holdings in AppLovin were worth $2,113,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of APP. Redhawk Wealth Advisors Inc. grew its holdings in shares of AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after purchasing an additional 18 shares during the period. Verdence Capital Advisors LLC increased its position in shares of AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares during the last quarter. Strategic Advocates LLC raised its holdings in AppLovin by 0.8% in the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after buying an additional 21 shares during the period. Finivi Inc. lifted its position in AppLovin by 3.2% in the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after buying an additional 22 shares during the last quarter. Finally, Alta Wealth Advisors LLC lifted its position in AppLovin by 0.6% in the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s 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 completion of the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 389,924 shares of company stock worth $195,693,875 over the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APP. Wedbush reaffirmed an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. Raymond James Financial began coverage on shares of AppLovin in a report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday, May 28th. Two equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $668.27.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $527.06 on Monday. The firm has a market capitalization of $177.06 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 0.85 and a beta of 2.49. AppLovin Corporation has a 1 year low of $325.58 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm’s 50-day moving average is $501.83 and its two-hundred day moving average is $503.58.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share. Analysts predict that AppLovin Corporation will post 15.96 EPS for the current year.

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.