AppLovin Corporation $APP Shares Sold by Horizon Investment Services LLC

by · The Cerbat Gem

Horizon Investment Services LLC trimmed its position in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 10.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,180 shares of the company’s stock after selling 1,898 shares during the period. AppLovin makes up approximately 3.9% of Horizon Investment Services LLC’s holdings, making the stock its 4th biggest holding. Horizon Investment Services LLC’s holdings in AppLovin were worth $10,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Revolve Wealth Partners LLC acquired a new stake in shares of AppLovin during the 4th quarter worth $294,000. Bison Wealth LLC purchased a new stake in AppLovin during the 4th quarter worth $239,000. Integrated Wealth Concepts LLC boosted its position 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 purchasing an additional 621 shares during the period. NewEdge Advisors LLC boosted its position in AppLovin by 5.7% during the 2nd 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 period. Finally, Treasurer of the State of North Carolina boosted its position in AppLovin by 7.2% during the 2nd 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 during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

  • Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
  • Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
  • Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

AppLovin Stock Performance

NASDAQ:APP opened at $496.77 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a 50-day moving average of $482.88 and a two-hundred day moving average of $520.84. The stock has a market cap of $166.88 billion, a P/E ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The company 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 firm’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 EPS. On average, research analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APP. Wells Fargo & Company upped their price target on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research report on Tuesday. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Wednesday. KeyCorp set a $775.00 price target on shares of AppLovin in a research report on Wednesday. Finally, Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $669.62.

Check Out Our Latest Report on AppLovin

Insider Activity

In related news, CTO Vasily Shikin sold 8,112 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $483.67, for a total transaction of $3,923,531.04. Following the sale, the chief technology officer owned 18,805 shares in the company, valued at $9,095,414.35. This represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the sale, the chief executive officer owned 2,327,684 shares in the company, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 389,924 shares of company stock valued at $187,404,946 over the last quarter. Corporate insiders own 13.66% of the company’s stock.

AppLovin Profile

(Free Report)

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.

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