AppLovin Corporation $APP Shares Sold by Paragon Advisors LLC

Paragon Advisors LLC decreased its position in AppLovin Corporation (NASDAQ:APP) by 30.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,669 shares of the company’s stock after selling 2,000 shares during the period. Paragon Advisors LLC’s holdings in AppLovin were worth $2,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Washington Trust Advisors Inc. lifted its position in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in AppLovin during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC acquired a new position in AppLovin during the 4th quarter worth approximately $32,000. Osbon Capital Management LLC purchased a new position in shares of AppLovin during the 4th quarter worth approximately $36,000. Finally, Dogwood Wealth Management LLC raised its stake in shares of AppLovin by 84.4% during the 4th quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock worth $40,000 after buying an additional 27 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Some analysts remain constructive on AppLovin’s valuation and financial profile. Phillip Securities upgraded the stock, while a recent analysis argued that the shares may be mispriced relative to the company’s fundamentals after reaching a 52-week low. AppLovin Upgraded at Phillip Securities AppLovin at 52-Week Low
• Neutral Sentiment: JPMorgan initiated coverage with a Neutral rating, recognizing AppLovin’s strong profitability and balance-sheet profile while questioning whether its rapid mobile-gaming advertising growth can continue. Bank of America also rates the shares Neutral. JPMorgan Initiates AppLovin Coverage Bank of America Neutral Rating
• Negative Sentiment: AppLovin’s latest quarterly results fell slightly short of revenue expectations, and adjusted EBITDA also missed estimates. Management attributed the weakness to slower-than-usual improvements in its core gaming advertising models, intensifying concerns about earnings-growth durability. AppLovin Q2 Earnings Call
• Negative Sentiment: Competitive risks from Unity and Meta, as well as questions about whether Google could challenge AppLovin’s advertising position, are weighing on the investment narrative. BTIG issued a pessimistic forecast, and another analyst downgrade previously contributed to selling pressure. BTIG Forecast for AppLovin AppLovin and Google Competition
• Negative Sentiment: Quant fund Renaissance Technologies exited its AppLovin position, a potential additional overhang for sentiment even though the move reflects portfolio management rather than a fundamental company announcement. Renaissance Changes Holdings

Wall Street Analysts Forecast Growth

Several analysts have recently commented on APP shares. Weiss Ratings raised AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. The Goldman Sachs Group cut their price objective on AppLovin from $585.00 to $465.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. KeyCorp set a $775.00 target price on AppLovin in a report on Wednesday, June 10th. BTIG Research decreased their target price on shares of AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $357.00 price objective (down from $575.00) on shares of AppLovin in a research note on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $565.91.

AppLovin Stock Up 0.9%

AppLovin stock opened at $315.44 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The firm has a market capitalization of $105.56 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 0.63 and a beta of 2.54. AppLovin Corporation has a fifty-two week low of $303.17 and a fifty-two week high of $745.61. The stock’s fifty day moving average is $447.84 and its two-hundred day moving average is $456.06.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $2.39 EPS. The business’s revenue was up 52.8% on a year-over-year basis. Analysts predict that AppLovin Corporation will post 15.57 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the transaction, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 in the last quarter. 12.81% of the stock is owned by corporate insiders.

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.