AppLovin Corporation $APP Stock Position Cut by Vestor Capital LLC

Vestor Capital LLC decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 99.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145 shares of the company’s stock after selling 58,650 shares during the period. Vestor Capital LLC’s holdings in AppLovin were worth $58,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin during the fourth quarter valued at approximately $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the fourth quarter worth approximately $239,000. Integrated Wealth Concepts LLC lifted its position in AppLovin by 58.0% in the first 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 period. NewEdge Advisors LLC boosted its stake in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is owned by company insiders.

AppLovin Stock Performance

APP opened at $395.90 on Friday. The firm has a market cap of $133.00 billion, a PE ratio of 34.01, a P/E/G ratio of 0.65 and a beta of 2.49. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The business has a fifty day simple moving average of $491.19 and a 200-day simple moving average of $472.27. AppLovin Corporation has a fifty-two week low of $359.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on APP shares. JPMorgan Chase & Co. lifted their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. BTIG Research reaffirmed a “buy” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. UBS Group decreased their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price target on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $668.45.

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.