Insight Holdings Group LLC Sells 4,640 Shares of AppLovin Corporation $APP

Insight Holdings Group LLC lessened its stake in AppLovin Corporation (NASDAQ:APP) by 27.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,260 shares of the company’s stock after selling 4,640 shares during the quarter. AppLovin accounts for approximately 0.6% of Insight Holdings Group LLC’s holdings, making the stock its 17th biggest position. Insight Holdings Group LLC’s holdings in AppLovin were worth $8,261,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of APP. Revolve Wealth Partners LLC purchased a new position in shares of AppLovin in the 4th quarter worth about $294,000. Bison Wealth LLC purchased a new position in shares of AppLovin in the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC raised its position in shares of AppLovin by 58.0% in 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 raised its position in shares of AppLovin by 5.7% in 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 raised its position in shares of AppLovin by 7.2% in 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.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Oppenheimer lowered their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Arete Research set a $340.00 price target on AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. KeyCorp set a $775.00 price target on AppLovin in a research report on Wednesday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. Finally, Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,014 shares of company stock worth $113,073,400 in the last 90 days. Corporate insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $479.49 on Thursday. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The business has a 50-day simple moving average of $489.48 and a two-hundred day simple moving average of $519.07. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $161.08 billion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 0.84 and a beta of 2.45.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. AppLovin’s revenue was up 58.9% on a year-over-year basis. On average, analysts expect that AppLovin Corporation will post 15.86 earnings per share 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.