Y Intercept Hong Kong Ltd Reduces Stock Holdings in AppLovin Corporation $APP

Y Intercept Hong Kong Ltd lessened its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 58.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,243 shares of the company’s stock after selling 25,163 shares during the period. Y Intercept Hong Kong Ltd’s holdings in AppLovin were worth $9,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC bought a new stake in AppLovin during the 2nd quarter worth approximately $6,939,000. Calamos Advisors LLC raised its position in AppLovin by 73.3% in the 4th quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after purchasing an additional 20,609 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in AppLovin by 12.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,265 shares of the company’s stock valued at $131,573,000 after purchasing an additional 21,427 shares during the last quarter. Fifth Third Bancorp boosted its stake in AppLovin by 312.0% in the fourth quarter. Fifth Third Bancorp now owns 6,123 shares of the company’s stock worth $4,126,000 after purchasing an additional 4,637 shares in the last quarter. Finally, North Dakota State Investment Board acquired a new position in AppLovin in the fourth quarter worth $5,490,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Tuesday, June 16th. The stock was 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 approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 in the last three months. 12.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on APP. Citigroup cut their price target on AppLovin from $710.00 to $650.00 and set a “buy” rating for the company in a report on Friday, August 7th. Wells Fargo & Company reissued an “equal weight” rating and set a $357.00 price objective (down from $575.00) on shares of AppLovin in a report on Thursday, August 6th. The Goldman Sachs Group lowered their price objective on shares of AppLovin from $585.00 to $465.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. UBS Group dropped their target price on shares of AppLovin from $798.00 to $790.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, KeyCorp set a $775.00 price target on shares of AppLovin in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $565.91.

AppLovin Stock Down 4.7%

Shares of AppLovin stock opened at $303.76 on Thursday. The business’s 50 day simple moving average is $457.60 and its 200 day simple moving average is $458.54. AppLovin Corporation has a 52-week low of $303.17 and a 52-week high of $745.61. The firm has a market cap of $102.05 billion, a PE ratio of 23.35, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, hitting the consensus estimate of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business earned $2.39 EPS. The business’s quarterly revenue was up 52.8% on a year-over-year basis. On average, analysts predict that AppLovin Corporation will post 15.57 earnings per share for the current fiscal year.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin expects revenue growth to reaccelerate sequentially in the third quarter while maintaining an approximately 83% margin, even as it invests in additional AI computing capacity. The guidance supports the view that recent weakness may be temporary. AppLovin Q3 Guidance Signals Reacceleration After a Mixed Q2 Print
• Positive Sentiment: Phillip Securities upgraded APP from “moderate buy” to “strong buy.” BTIG also maintained a buy rating and set a $408 price target, implying substantial upside despite lowering its previous target of $574. BTIG AppLovin Price Target
• Positive Sentiment: Several investment commentaries characterize AppLovin as an attractive value opportunity after its steep decline, citing rapid revenue growth, high margins and strong earnings potential relative to valuation. AppLovin Won’t Be This Cheap for Long

About AppLovin

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.