AppLovin Corporation $APP Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. cut its position in shares of AppLovin Corporation (NASDAQ:APP) by 53.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,424 shares of the company’s stock after selling 2,806 shares during the period. Dana Investment Advisors Inc.’s holdings in AppLovin were worth $1,742,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new position in AppLovin in the fourth quarter worth approximately $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $239,000. Integrated Wealth Concepts LLC grew its holdings in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of AppLovin during the 2nd quarter worth about $259,000. Finally, AlphaQuest LLC raised its holdings in AppLovin by 1,143.9% in the 2nd quarter. AlphaQuest LLC now owns 510 shares of the company’s stock valued at $179,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director owned 2,829 shares in the company, valued at approximately $1,961,402.28. This trade represents a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the transaction, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 13.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on APP. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. UBS Group set a $740.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Piper Sandler reiterated an “overweight” rating and issued a $650.00 target price (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Evercore restated a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $651.77.

AppLovin Price Performance

AppLovin stock opened at $421.60 on Thursday. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The firm has a market cap of $142.48 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 0.81 and a beta of 2.49. The company’s 50 day moving average is $550.18 and its two-hundred day moving average is $571.84.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company’s revenue was up 66.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. On average, research analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

About AppLovin

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.