Catalyst Capital Advisors LLC Decreases Stake in AppLovin Corporation $APP

Catalyst Capital Advisors LLC cut its stake in shares of AppLovin Corporation (NASDAQ:APP) by 97.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118 shares of the company’s stock after selling 4,994 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in AppLovin were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC purchased a new stake in shares of AppLovin during the 4th quarter worth $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the fourth quarter valued at $239,000. Integrated Wealth Concepts LLC lifted its holdings in 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 buying an additional 621 shares during the last quarter. NewEdge Advisors LLC lifted its stake in AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $424.54 on Friday. The firm’s fifty day simple moving average is $506.01 and its 200-day simple moving average is $489.19. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $142.62 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49. AppLovin Corporation has a fifty-two week low of $343.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.67 earnings per share. Analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APP. Wells Fargo & Company upped their target price on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Argus began coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. KeyCorp set a $775.00 target price on AppLovin in a research report on Wednesday, June 10th. Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Finally, UBS Group dropped their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $668.45.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 393,000 shares of company stock valued at $197,297,363 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

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.