Spirepoint Private Client LLC Sells 44 Shares of AppLovin Corporation $APP

Spirepoint Private Client LLC trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 2.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,905 shares of the company’s stock after selling 44 shares during the period. Spirepoint Private Client LLC’s holdings in AppLovin were worth $667,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares in the last quarter. Invesco Ltd. increased its position in shares of AppLovin by 32.9% during the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock worth $1,062,876,000 after purchasing an additional 992,316 shares in the last quarter. Finally, Kensico Capital Management Corp increased its position in shares of AppLovin by 12.9% during the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after purchasing an additional 328,000 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 4.7%

Shares of NASDAQ APP opened at $669.86 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 1 year low of $126.53 and a 1 year high of $671.18. The firm’s 50-day moving average is $480.60 and its 200-day moving average is $376.48. The firm has a market capitalization of $226.58 billion, a PE ratio of 95.15, a price-to-earnings-growth ratio of 3.54 and a beta of 2.44.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was up 77.1% on a year-over-year basis. Equities analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $432.49, for a total value of $86,498,000.00. Following the sale, the director directly owned 181,929 shares in the company, valued at $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of AppLovin stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the sale, the director owned 7,283,292 shares in the company, valued at $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of AppLovin in a research report on Thursday, August 28th. Oppenheimer increased their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, Piper Sandler raised their price objective on shares of AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $540.76.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.