AppLovin Corporation $APP Holdings Decreased by Vestor Capital LLC

Vestor Capital LLC decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 99.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 145 shares of the company’s stock after selling 58,650 shares during the quarter. Vestor Capital LLC’s holdings in AppLovin were worth $58,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of APP. Cassaday & Co Wealth Management LLC acquired a new position in shares of AppLovin in the 1st quarter valued at about $25,000. Washington Trust Advisors Inc. boosted its holdings in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new position in AppLovin during the fourth quarter valued at approximately $32,000. Finally, First Pacific Financial purchased a new position in AppLovin during the first quarter valued at approximately $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of APP opened at $395.90 on Friday. The firm has a market cap of $133.00 billion, a PE ratio of 34.01, a PEG ratio of 0.65 and a beta of 2.49. The firm’s 50 day moving average price is $491.19 and its 200 day moving average price is $472.27. 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 twelve month low of $359.00 and a twelve month high of $745.61.

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

Insiders Place Their Bets

In related news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $521.29, for a total value of $1,603,488.04. Following the transaction, the director owned 120,444 shares in the company, valued at approximately $62,786,252.76. This trade represents a 2.49% 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 worth $197,297,363 in the last 90 days. 12.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on APP shares. Argus began coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Wedbush reaffirmed an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Finally, Raymond James Financial initiated coverage on AppLovin in a report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target 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.