Regal Partners Ltd Sells 4,886 Shares of AppLovin Corporation $APP

Regal Partners Ltd lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 65.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,552 shares of the company’s stock after selling 4,886 shares during the period. Regal Partners Ltd’s holdings in AppLovin were worth $1,016,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APP. State Street Corp grew its stake in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the last quarter. Corient Private Wealth LLC raised its holdings in AppLovin by 3,118.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after acquiring an additional 4,063,763 shares during the period. Norges Bank acquired a new position in AppLovin during the 4th quarter worth $2,040,321,000. Northern Trust Corp lifted its position in AppLovin by 46.8% during the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after acquiring an additional 756,660 shares during the last quarter. Finally, Amundi boosted its holdings in AppLovin by 81.3% during the fourth quarter. Amundi now owns 1,426,896 shares of the company’s stock valued at $961,471,000 after acquiring an additional 639,836 shares during the period. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. KeyCorp set a $775.00 target price on AppLovin in a research note on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. Finally, UBS Group cut their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $668.45.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 20,000 shares of the firm’s 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 directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the transaction, the director directly owned 120,444 shares of the company’s stock, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 393,000 shares of company stock worth $197,297,363 in the last three months. Company insiders own 12.81% of the company’s stock.

AppLovin Stock Up 1.3%

APP stock opened at $418.22 on Wednesday. AppLovin Corporation has a twelve month low of $358.55 and a twelve month high of $745.61. The company has a market cap of $140.50 billion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49. The business’s 50-day simple moving average is $496.20 and its 200 day simple moving average is $476.06. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last issued 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. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. On average, research analysts anticipate that AppLovin Corporation will post 15.93 earnings per share 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.