AppLovin Corporation $APP Stake Cut by Plato Investment Management Ltd

Plato Investment Management Ltd cut its stake in AppLovin Corporation (NASDAQ:APP) by 17.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,532 shares of the company’s stock after selling 1,631 shares during the period. Plato Investment Management Ltd’s holdings in AppLovin were worth $2,627,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in APP. Vestcor Inc increased its holdings in shares of AppLovin by 0.8% during the first quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after purchasing an additional 33 shares during the period. Fortitude Family Office LLC increased its stake in AppLovin by 32.7% in the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after purchasing an additional 34 shares in the last quarter. GSG Advisors LLC increased its stake in AppLovin by 0.3% in the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock worth $2,820,000 after purchasing an additional 35 shares in the last quarter. LMG Wealth Partners LLC increased its stake in AppLovin by 0.5% in the 2nd quarter. LMG Wealth Partners LLC now owns 7,941 shares of the company’s stock worth $2,780,000 after purchasing an additional 39 shares in the last quarter. Finally, Argentarii LLC increased its holdings in shares of AppLovin by 1.5% in the 1st quarter. Argentarii LLC now owns 2,638 shares of the company’s stock valued at $699,000 after purchasing an additional 40 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Trading Up 2.7%

NASDAQ:APP opened at $637.33 on Friday. AppLovin Corporation has a 1-year low of $158.33 and a 1-year high of $745.61. The business’s 50-day moving average price is $589.79 and its two-hundred day moving average price is $438.41. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $215.58 billion, a price-to-earnings ratio of 90.53, a PEG ratio of 3.46 and a beta of 2.53.

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

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 125,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. The trade was a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the transaction, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last three months. 13.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

APP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. BTIG Research boosted their target price on AppLovin from $664.00 to $693.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler boosted their target price on AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Wells Fargo & Company upped their price target on AppLovin from $491.00 to $633.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Phillip Securities upgraded AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.39.

AppLovin 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.