Sigma Planning Corp Decreases Stake in AppLovin Corporation $APP

Sigma Planning Corp lessened its position in shares of AppLovin Corporation (NASDAQ:APP) by 59.0% in the 1st quarter, HoldingsChannel reports. The fund owned 2,066 shares of the company’s stock after selling 2,978 shares during the period. Sigma Planning Corp’s holdings in AppLovin were worth $822,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. ABC Arbitrage SA acquired a new stake in shares of AppLovin in the 1st quarter valued at $234,000. Calamos Advisors LLC grew its stake in shares of AppLovin by 1.8% during the first quarter. Calamos Advisors LLC now owns 49,603 shares of the company’s stock worth $19,742,000 after purchasing an additional 866 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in AppLovin by 6.2% in the first quarter. Chicago Partners Investment Group LLC now owns 2,693 shares of the company’s stock valued at $1,072,000 after buying an additional 158 shares during the last quarter. AMF Tjanstepension AB increased its holdings in AppLovin by 11.6% in the first quarter. AMF Tjanstepension AB now owns 43,658 shares of the company’s stock valued at $17,376,000 after buying an additional 4,535 shares during the last quarter. Finally, J. Safra Sarasin Holding AG raised its stake in AppLovin by 45.9% in the first quarter. J. Safra Sarasin Holding AG now owns 4,113 shares of the company’s stock valued at $1,636,000 after buying an additional 1,293 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

APP stock opened at $424.54 on Monday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $142.62 billion, a P/E ratio of 36.47, a PEG ratio of 0.69 and a beta of 2.49. The business has a 50 day simple moving average of $506.01 and a 200-day simple moving average of $487.71. AppLovin Corporation has a twelve month low of $343.00 and a twelve month high of $745.61.

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. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $1.67 EPS. The company’s quarterly revenue was up 58.9% on a year-over-year basis. As a group, equities analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on APP shares. Wedbush reaffirmed an “outperform” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Citigroup reiterated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. KeyCorp set a $775.00 target price on AppLovin in a research report on Wednesday, June 10th. Wells Fargo & Company boosted their target price on AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the company’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 completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 in the last three months. Company insiders own 13.66% of the company’s stock.

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.