AppLovin Corporation $APP Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its position in AppLovin Corporation (NASDAQ:APP) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,365 shares of the company’s stock after selling 2,665 shares during the quarter. Sanctuary Advisors LLC’s holdings in AppLovin were worth $13,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in AppLovin in the 4th quarter worth $27,000. Washington Trust Advisors Inc. grew its stake in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin during the fourth quarter worth about $32,000. Finally, First Pacific Financial purchased a new stake in shares of AppLovin during the first quarter worth about $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent analyst reports. Raymond James Financial initiated coverage on AppLovin in a research report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 target price on the stock. 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. Citigroup restated a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $668.45.

AppLovin Trading Down 4.0%

AppLovin stock opened at $434.48 on Friday. 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 $145.96 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 0.74 and a beta of 2.49. AppLovin Corporation has a 1 year low of $343.00 and a 1 year high of $745.61. The firm’s 50 day moving average price is $506.89 and its two-hundred day moving average price is $489.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The firm’s revenue was up 58.9% on a year-over-year basis. On average, research analysts predict that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the chief technology officer owned 3,189,739 shares in the company, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 393,000 shares of company stock worth $197,297,363. Corporate insiders own 13.66% of the company’s stock.

AppLovin Company 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.