Y Intercept Hong Kong Ltd Sells 25,163 Shares of AppLovin Corporation $APP

Y Intercept Hong Kong Ltd lessened its stake in AppLovin Corporation (NASDAQ:APP) by 58.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,243 shares of the company’s stock after selling 25,163 shares during the period. Y Intercept Hong Kong Ltd’s holdings in AppLovin were worth $9,399,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC boosted its holdings in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Finivi Inc. increased its holdings in AppLovin by 3.2% during the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after purchasing an additional 22 shares during the period. Revolve Wealth Partners LLC raised its position in AppLovin by 2.8% during the 2nd quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock valued at $438,000 after purchasing an additional 23 shares in the last quarter. Alta Wealth Advisors LLC raised its position in AppLovin by 0.6% during the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after purchasing an additional 24 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

NASDAQ APP opened at $303.76 on Thursday. The firm’s fifty day simple moving average is $457.60 and its two-hundred day simple moving average is $458.54. The firm has a market capitalization of $102.05 billion, a P/E ratio of 23.35, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. AppLovin Corporation has a 12-month low of $303.17 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm earned $2.39 EPS. The business’s quarterly revenue was up 52.8% on a year-over-year basis. Analysts forecast that AppLovin Corporation will post 15.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the transaction, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. The Goldman Sachs Group lowered their price objective on shares of AppLovin from $585.00 to $465.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Raymond James Financial began coverage on shares of AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 target price on the stock. Citigroup reduced their price target on shares of AppLovin from $710.00 to $650.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, BTIG Research dropped their price objective on shares of AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $565.91.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin expects revenue growth to reaccelerate sequentially in the third quarter while maintaining an approximately 83% margin, even as it invests in additional AI computing capacity. The guidance supports the view that recent weakness may be temporary. AppLovin Q3 Guidance Signals Reacceleration After a Mixed Q2 Print
• Positive Sentiment: Phillip Securities upgraded APP from “moderate buy” to “strong buy.” BTIG also maintained a buy rating and set a $408 price target, implying substantial upside despite lowering its previous target of $574. BTIG AppLovin Price Target
• Positive Sentiment: Several investment commentaries characterize AppLovin as an attractive value opportunity after its steep decline, citing rapid revenue growth, high margins and strong earnings potential relative to valuation. AppLovin Won’t Be This Cheap for Long

AppLovin Company 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.