AppLovin Corporation $APP Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,843 shares of the company's stock after selling 14,679 shares during the quarter. Guggenheim Capital LLC's holdings in AppLovin were worth $18,506,000 at the end of the most recent quarter.

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Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atala Financial Inc acquired a new stake in AppLovin during the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin during the first quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in AppLovin during the first quarter worth about $29,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin in the first quarter valued at approximately $29,000. Finally, SouthState Corp acquired a new stake in shares of AppLovin in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. BTIG Research raised their price target on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Piper Sandler raised their price target on shares of AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $472.86.

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Check Out Our Latest Research Report on AppLovin

AppLovin Trading Down 1.4%

AppLovin stock opened at $462.94 on Thursday. The company has a 50 day moving average price of $381.53 and a 200 day moving average price of $346.92. AppLovin Corporation has a 52 week low of $82.51 and a 52 week high of $525.15. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The firm has a market capitalization of $156.59 billion, a price-to-earnings ratio of 65.76, a P/E/G ratio of 2.62 and a beta of 2.43.

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AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $0.89 EPS. The company's revenue was up 77.1% on a year-over-year basis. Research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 15,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $450.00, for a total value of $6,750,000.00. Following the completion of the sale, the insider owned 304,955 shares in the company, valued at $137,229,750. This represents a 4.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,564 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.48, for a total transaction of $7,683,898.72. Following the completion of the sale, the chief technology officer owned 53,389 shares of the company's stock, valued at approximately $23,356,619.72. The trade was a 24.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,236,152 shares of company stock worth $545,240,378 in the last quarter. 13.66% of the stock is currently owned by corporate insiders.

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.

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