AppLovin Corporation $APP Shares Sold by Union Bancaire Privee UBP SA

by · The Cerbat Gem

Union Bancaire Privee UBP SA reduced its stake in AppLovin Corporation (NASDAQ:APP – Free Report) by 35.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,575 shares of the company’s stock after selling 7,448 shares during the period. Union Bancaire Privee UBP SA’s holdings in AppLovin were worth $9,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Keb Asset Management LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at $254,000. Heartwood Wealth Advisors LLC acquired a new stake in AppLovin during the 3rd quarter worth $33,000. Grove Bank & Trust purchased a new stake in AppLovin in the third quarter valued at $58,000. Venture Visionary Partners LLC boosted its stake in AppLovin by 14.8% in the third quarter. Venture Visionary Partners LLC now owns 26,585 shares of the company’s stock valued at $19,102,000 after acquiring an additional 3,427 shares in the last quarter. Finally, Nilsine Partners LLC acquired a new position in AppLovin in the third quarter valued at $360,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the transaction, the chief executive officer owned 2,553,161 shares in the company, valued at approximately $1,328,384,136.69. This trade represents a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 332,727 shares of company stock valued at $195,062,520. 13.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppLovin in a research report on Monday. Piper Sandler raised their price target on AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company increased their price objective on AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Nineteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $692.60.

Read Our Latest Stock Analysis on AppLovin

AppLovin Stock Up 0.3%

AppLovin stock opened at $677.30 on Wednesday. The stock has a 50 day moving average of $611.64 and a two-hundred day moving average of $506.66. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The stock has a market capitalization of $228.90 billion, a price-to-earnings ratio of 82.20, a PEG ratio of 3.62 and a beta of 2.51. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APP – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 68.2% compared to the same quarter last year. As a group, research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

AppLovin Company Profile

(Free Report)

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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