Delap Wealth Advisory LLC Has $223,000 Stock Holdings in AppLovin Co. (NASDAQ:APP)

Delap Wealth Advisory LLC cut its holdings in AppLovin Co. (NASDAQ:APP) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,681 shares of the company’s stock after selling 361 shares during the quarter. Delap Wealth Advisory LLC’s holdings in AppLovin were worth $223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after purchasing an additional 248,022 shares during the period. Gulf International Bank UK Ltd acquired a new position in shares of AppLovin in the 1st quarter valued at approximately $1,131,000. Acadian Asset Management LLC grew its position in shares of AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares during the period. Janney Montgomery Scott LLC grew its position in shares of AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of AppLovin in the 2nd quarter valued at approximately $1,195,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 1.7 %

Shares of AppLovin stock opened at $126.09 on Friday. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $128.19. The stock has a market cap of $41.49 billion, a P/E ratio of 75.05, a P/E/G ratio of 1.41 and a beta of 1.88. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The business’s 50 day moving average is $87.92 and its 200-day moving average is $80.27.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the business earned $0.22 EPS. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. Equities research analysts predict that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 47,001 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the sale, the insider now owns 390,615 shares in the company, valued at approximately $33,225,711.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now directly owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $85.06, for a total value of $3,997,905.06. Following the completion of the transaction, the insider now directly owns 390,615 shares in the company, valued at $33,225,711.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 775,934 shares of company stock worth $65,805,022. Company insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of several research analyst reports. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Benchmark upped their price target on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Wedbush reduced their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.09.

AppLovin Company 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.