AppLovin Corporation $APP Shares Sold by Lido Advisors LLC

Lido Advisors LLC reduced its position in shares of AppLovin Corporation (NASDAQ:APP) by 35.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,587 shares of the company’s stock after selling 4,752 shares during the quarter. Lido Advisors LLC’s holdings in AppLovin were worth $3,418,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of APP. Vanguard Group Inc. boosted its stake in AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp raised its position in AppLovin by 0.4% in the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after acquiring an additional 52,377 shares in the last quarter. Geode Capital Management LLC raised its position in AppLovin by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after acquiring an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AppLovin by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after acquiring an additional 212,349 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in AppLovin by 10.7% in the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after acquiring an additional 538,806 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 22,544 shares of AppLovin stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the transaction, the chief executive officer owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This represents a 0.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 393,000 shares of company stock worth $197,297,363. Insiders own 12.81% of the company’s stock.

AppLovin Trading Down 1.7%

Shares of APP opened at $391.98 on Friday. The business’s 50-day moving average price is $498.97 and its 200 day moving average price is $480.08. 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 stock has a market capitalization of $131.68 billion, a P/E ratio of 33.68, a P/E/G ratio of 0.64 and a beta of 2.49. AppLovin Corporation has a 1-year low of $357.03 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 earnings per share. Analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Wedbush reissued an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Benchmark restated a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. upped their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $668.45.

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.