GSG Advisors LLC Decreases Holdings in AppLovin Co. (NASDAQ:APP)

GSG Advisors LLC decreased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 33.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,110 shares of the company’s stock after selling 10,000 shares during the period. AppLovin comprises approximately 0.6% of GSG Advisors LLC’s holdings, making the stock its 26th largest position. GSG Advisors LLC’s holdings in AppLovin were worth $1,706,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC raised its position in shares of AppLovin by 146.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,726 shares of the company’s stock valued at $993,000 after buying an additional 6,974 shares in the last quarter. SG Americas Securities LLC lifted its stake in AppLovin by 101.7% in the second quarter. SG Americas Securities LLC now owns 8,268 shares of the company’s stock worth $688,000 after purchasing an additional 4,168 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of AppLovin during the second quarter valued at approximately $50,000. QRG Capital Management Inc. increased its stake in AppLovin by 21.8% in the 2nd quarter. QRG Capital Management Inc. now owns 9,731 shares of the company’s stock worth $810,000 after buying an additional 1,743 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in AppLovin by 19.0% during the 2nd quarter. Annex Advisory Services LLC now owns 200,146 shares of the company’s stock valued at $16,656,000 after buying an additional 31,912 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 0.8 %

NASDAQ APP traded up $0.65 during trading hours on Friday, reaching $77.38. The company had a trading volume of 4,907,309 shares, compared to its average volume of 4,142,467. AppLovin Co. has a 1-year low of $33.17 and a 1-year high of $91.91. The stock has a market capitalization of $25.46 billion, a P/E ratio of 46.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86. The stock has a 50-day moving average of $80.00 and a 200 day moving average of $71.51. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company’s revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, research analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. The Goldman Sachs Group upped their target price on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. BTIG Research lifted their price target on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group upped their price objective on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley raised their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.95.

Insider Activity at AppLovin

In related news, Director Craig Scott Billings sold 5,620 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the transaction, the director now owns 1,780 shares in the company, valued at $151,246.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CMO Katie Kihorany Jansen sold 12,755 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $79.01, for a total value of $1,007,772.55. Following the transaction, the chief marketing officer now directly owns 1,236,703 shares of the company’s stock, valued at approximately $97,711,904.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig Scott Billings sold 5,620 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $84.97, for a total value of $477,531.40. Following the transaction, the director now directly owns 1,780 shares in the company, valued at approximately $151,246.60. The disclosure for this sale can be found here. Insiders have sold a total of 17,709,742 shares of company stock valued at $1,477,073,771 over the last 90 days. 14.69% of the stock is owned by corporate insiders.

AppLovin Company Profile

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.