AppLovin Corporation $APP Stake Reduced by Yousif Capital Management LLC

Yousif Capital Management LLC cut its holdings in AppLovin Corporation (NASDAQ:APP) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,195 shares of the company’s stock after selling 349 shares during the quarter. Yousif Capital Management LLC’s holdings in AppLovin were worth $1,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APP. Hazlett Burt & Watson Inc. purchased a new position in AppLovin in the 2nd quarter worth about $51,000. Mitchell Capital Management Co. purchased a new position in AppLovin in the 2nd quarter worth about $3,175,000. LRI Investments LLC increased its stake in AppLovin by 131.1% in the 2nd quarter. LRI Investments LLC now owns 802 shares of the company’s stock worth $281,000 after purchasing an additional 455 shares in the last quarter. Legal Advantage Investments Inc. purchased a new position in AppLovin in the 2nd quarter worth about $1,523,000. Finally, Board of the Pension Protection Fund increased its stake in AppLovin by 5,500.0% in the 2nd quarter. Board of the Pension Protection Fund now owns 5,600 shares of the company’s stock worth $1,960,000 after purchasing an additional 5,500 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of a number of analyst reports. Wedbush lifted their price target on AppLovin from $725.00 to $745.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Citigroup lifted their price target on AppLovin from $600.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Scotiabank reissued an “outperform” rating on shares of AppLovin in a research note on Thursday, August 28th. Royal Bank Of Canada initiated coverage on AppLovin in a research note on Monday, October 13th. They issued an “outperform” rating and a $700.00 price target on the stock. Finally, BTIG Research lifted their price target on AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $600.59.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 26,200 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the completion of the sale, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is owned by corporate insiders.

AppLovin Trading Down 2.4%

NASDAQ:APP opened at $552.64 on Wednesday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a fifty-two week low of $157.88 and a fifty-two week high of $745.61. The stock’s 50-day moving average is $559.97 and its two-hundred day moving average is $416.72. The stock has a market cap of $186.93 billion, a PE ratio of 78.50, a price-to-earnings-growth ratio of 3.07 and a beta of 2.53.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The business’s revenue for the quarter was up 77.1% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.