FCF Advisors LLC Trims Stock Holdings in AppLovin Co. (NASDAQ:APP)

FCF Advisors LLC lowered its position in AppLovin Co. (NASDAQ:APP) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,165 shares of the company’s stock after selling 6,352 shares during the quarter. AppLovin makes up about 1.2% of FCF Advisors LLC’s portfolio, making the stock its 23rd biggest position. FCF Advisors LLC’s holdings in AppLovin were worth $4,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Atomi Financial Group Inc. bought a new position in AppLovin in the third quarter worth approximately $305,000. Dynamic Advisor Solutions LLC bought a new stake in AppLovin during the 3rd quarter valued at $725,000. SignalPoint Asset Management LLC bought a new stake in AppLovin during the 3rd quarter valued at $217,000. Fulton Bank N.A. boosted its position in AppLovin by 12.0% during the 3rd quarter. Fulton Bank N.A. now owns 7,521 shares of the company’s stock valued at $982,000 after acquiring an additional 808 shares in the last quarter. Finally, Lakeridge Wealth Management LLC bought a new stake in AppLovin during the 3rd quarter valued at $261,000. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of AppLovin stock traded up $2.89 on Tuesday, hitting $142.84. 765,826 shares of the company were exchanged, compared to its average volume of 4,178,998. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 83.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.92. The company has a 50-day moving average price of $99.03 and a 200 day moving average price of $85.70. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $143.64. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

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

Wall Street Analyst Weigh In

APP has been the subject of a number of recent analyst reports. Benchmark raised their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Wedbush lowered their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America raised their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group raised their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.44.

AppLovin 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.