Independent Solutions Wealth Management LLC Sells 1,597 Shares of AppLovin Corporation $APP

Independent Solutions Wealth Management LLC decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,836 shares of the company’s stock after selling 1,597 shares during the quarter. AppLovin makes up 1.3% of Independent Solutions Wealth Management LLC’s portfolio, making the stock its 20th largest position. Independent Solutions Wealth Management LLC’s holdings in AppLovin were worth $7,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd lifted its holdings in AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after buying an additional 32,510 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in AppLovin by 14.8% during the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after buying an additional 15,074 shares in the last quarter. Allworth Financial LP lifted its holdings in AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after buying an additional 3,438 shares in the last quarter. APG Asset Management N.V. bought a new stake in AppLovin during the 3rd quarter valued at about $4,958,000. Finally, Trek Financial LLC lifted its holdings in AppLovin by 851.6% during the 3rd quarter. Trek Financial LLC now owns 9,630 shares of the company’s stock valued at $6,920,000 after buying an additional 8,618 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Wells Fargo & Company raised their target price on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Scotiabank raised their target price on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, BTIG Research reissued a “buy” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $664.35.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 in the last 90 days. Insiders own 13.66% of the company’s stock.

AppLovin Trading Up 3.3%

NASDAQ APP opened at $501.00 on Friday. The company’s 50-day simple moving average is $447.26 and its two-hundred day simple moving average is $529.13. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company has a market capitalization of $168.31 billion, a price-to-earnings ratio of 43.04, a price-to-earnings-growth ratio of 0.81 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. The company’s quarterly revenue was up 58.9% compared to the same quarter last year. Equities analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

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.