AppLovin Corporation $APP Shares Sold by Florida Financial Advisors LLC

Florida Financial Advisors LLC lessened its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 69.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,580 shares of the company’s stock after selling 3,550 shares during the quarter. Florida Financial Advisors LLC’s holdings in AppLovin were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in APP. Washington Trust Advisors Inc. boosted its position in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin during the fourth quarter valued at $32,000. Osbon Capital Management LLC acquired a new position in shares of AppLovin during the fourth quarter valued at $36,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of AppLovin during the fourth quarter valued at about $38,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $428.69 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm’s 50 day moving average is $503.70 and its 200-day moving average is $484.09. AppLovin Corporation has a 12-month low of $343.00 and a 12-month high of $745.61. The stock has a market capitalization of $144.01 billion, a P/E ratio of 36.83, a P/E/G ratio of 0.69 and a beta of 2.49.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 earnings per share. Equities research analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the sale, the chief executive officer directly owned 2,369,351 shares of the company’s stock, valued at $1,153,755,469.45. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the transaction, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 393,000 shares of company stock valued at $197,297,363 in the last three months. Insiders own 12.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on APP. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective for the company. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, July 7th. Wells Fargo & Company upped their price target on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Citigroup reiterated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

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.