Williamson Legacy Group LLC Reduces Stock Holdings in AppLovin Corporation $APP

Williamson Legacy Group LLC trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 34.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,071 shares of the company’s stock after selling 1,589 shares during the quarter. AppLovin accounts for about 1.6% of Williamson Legacy Group LLC’s portfolio, making the stock its 23rd largest position. Williamson Legacy Group LLC’s holdings in AppLovin were worth $2,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd grew its stake in AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after purchasing an additional 32,510 shares during the last quarter. Allworth Financial LP grew its stake in AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the last quarter. APG Asset Management N.V. purchased a new stake in AppLovin during the 3rd quarter valued at about $4,958,000. Principal Financial Group Inc. grew its stake in AppLovin by 946.5% during the 3rd quarter. Principal Financial Group Inc. now owns 326,999 shares of the company’s stock valued at $234,962,000 after purchasing an additional 295,753 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in AppLovin by 138.3% during the 3rd quarter. Metis Global Partners LLC now owns 10,094 shares of the company’s stock valued at $7,253,000 after purchasing an additional 5,859 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the sale, the chief technology officer directly owned 3,255,273 shares of the company’s stock, valued at approximately $1,583,462,445.39. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the sale, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 in the last three months. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Argus assumed coverage on AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target on the stock. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Citigroup dropped their price target on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Finally, Evercore reiterated a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Stock Up 6.8%

Shares of APP opened at $514.24 on Wednesday. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. 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 company has a market capitalization of $172.75 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 0.78 and a beta of 2.37. The stock’s 50-day moving average price is $448.06 and its 200-day moving average price is $521.57.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 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 firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The company’s revenue was up 58.9% compared to the same quarter last year. On average, sell-side analysts predict that AppLovin Corporation will post 15.86 EPS 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.