GSG Advisors LLC Sells 10,000 Shares of AppLovin Co. (NASDAQ:APP)

GSG Advisors LLC cut its stake in AppLovin Co. (NASDAQ:APP) by 33.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,110 shares of the company’s stock after selling 10,000 shares during the quarter. AppLovin makes up approximately 0.6% of GSG Advisors LLC’s investment portfolio, making the stock its 26th largest holding. GSG Advisors LLC’s holdings in AppLovin were worth $1,706,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Diversify Advisory Services LLC grew its stake in AppLovin by 146.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 11,726 shares of the company’s stock valued at $993,000 after buying an additional 6,974 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of AppLovin by 101.7% during the second quarter. SG Americas Securities LLC now owns 8,268 shares of the company’s stock worth $688,000 after acquiring an additional 4,168 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of AppLovin in the second quarter valued at approximately $50,000. QRG Capital Management Inc. increased its stake in shares of AppLovin by 21.8% during the second quarter. QRG Capital Management Inc. now owns 9,731 shares of the company’s stock worth $810,000 after purchasing an additional 1,743 shares during the period. Finally, Annex Advisory Services LLC increased its stake in shares of AppLovin by 19.0% during the second quarter. Annex Advisory Services LLC now owns 200,146 shares of the company’s stock worth $16,656,000 after purchasing an additional 31,912 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on APP shares. Wedbush decreased their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday. Citigroup raised their price target on shares of AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Morgan Stanley boosted their price objective on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Oppenheimer restated an “outperform” rating and set a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research report on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.95.

Insider Activity at AppLovin

In other news, Director Craig Scott Billings sold 5,620 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the transaction, the director now directly owns 1,780 shares in the company, valued at $151,246.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Craig Scott Billings sold 5,620 shares of AppLovin stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the sale, the director now directly owns 1,780 shares of the company’s stock, valued at $151,246.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total value of $330,666.15. Following the completion of the transaction, the director now directly owns 11,565 shares of the company’s stock, valued at approximately $874,892.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,709,742 shares of company stock valued at $1,477,073,771. 14.69% of the stock is owned by insiders.

AppLovin Price Performance

Shares of APP traded up $0.65 during midday trading on Friday, hitting $77.38. The company’s stock had a trading volume of 4,907,309 shares, compared to its average volume of 4,142,467. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. AppLovin Co. has a one year low of $33.17 and a one year high of $91.91. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86. The company’s fifty day simple moving average is $80.00 and its two-hundred day simple moving average is $71.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. AppLovin’s revenue was up 44.0% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. As a group, equities analysts expect that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

About AppLovin

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.