EPIQ Capital Group LLC Sells 31,313 Shares of AppLovin Co. (NASDAQ:APP)

EPIQ Capital Group LLC lessened its holdings in AppLovin Co. (NASDAQ:APP) by 41.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,469 shares of the company’s stock after selling 31,313 shares during the quarter. AppLovin accounts for approximately 1.3% of EPIQ Capital Group LLC’s investment portfolio, making the stock its 13th biggest holding. EPIQ Capital Group LLC’s holdings in AppLovin were worth $3,617,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after purchasing an additional 248,022 shares in the last quarter. Gulf International Bank UK Ltd bought a new position in shares of AppLovin in the first quarter valued at $1,131,000. Acadian Asset Management LLC increased its holdings in AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after buying an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC raised its position in AppLovin by 167.0% during the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after acquiring an additional 10,099 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in AppLovin in the second quarter valued at $1,195,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on APP shares. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America lifted their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group increased their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Benchmark lifted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Finally, BTIG Research increased their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.78.

AppLovin Stock Up 3.3 %

Shares of APP opened at $116.25 on Tuesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a market capitalization of $38.25 billion, a PE ratio of 69.20, a P/E/G ratio of 1.41 and a beta of 1.88. The firm’s 50 day moving average is $84.70 and its 200-day moving average is $78.78. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $116.97.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted $0.22 EPS. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. Equities research analysts forecast that AppLovin Co. will post 3.46 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the transaction, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the transaction, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock worth $65,805,022 over the last 90 days. Insiders own 14.69% of the company’s stock.

AppLovin Profile

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.