RFG Advisory LLC Lowers Stock Holdings in AppLovin Corporation $APP

RFG Advisory LLC trimmed its stake in AppLovin Corporation (NASDAQ:APP) by 80.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346 shares of the company’s stock after selling 1,399 shares during the period. RFG Advisory LLC’s holdings in AppLovin were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC boosted its position in AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in shares of AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the period. Versant Capital Management Inc lifted its holdings in shares of AppLovin by 2.8% in the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after buying an additional 19 shares during the period. Finally, Claro Advisors LLC lifted its holdings in shares of AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after buying an additional 20 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at $1,117,625,877.90. This represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the sale, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 365,244 shares of company stock worth $169,584,607 in the last three months. 13.66% of the stock is owned by insiders.

AppLovin Trading Up 2.1%

Shares of NASDAQ APP opened at $478.42 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $161.36 billion, a P/E ratio of 41.10, a price-to-earnings-growth ratio of 0.77 and a beta of 2.37. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The business has a fifty day moving average price of $444.44 and a 200 day moving average price of $531.76.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 EPS. Equities research analysts expect that AppLovin Corporation will post 15.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the subject of several research reports. Jefferies Financial Group lowered their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Scotiabank upped their target price on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Argus assumed coverage on AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Citigroup lowered their price target on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

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.