KCM Capital Inc Reduces Position in AppLovin Corporation $APP

KCM Capital Inc trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 20.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 40,000 shares of the company’s stock after selling 10,000 shares during the period. AppLovin comprises about 2.6% of KCM Capital Inc’s portfolio, making the stock its 14th largest holding. KCM Capital Inc’s holdings in AppLovin were worth $15,920,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of APP. Redhawk Wealth Advisors Inc. lifted its stake in AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after acquiring an additional 18 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the period. Finivi Inc. grew its stake in shares of AppLovin by 3.2% in the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after acquiring an additional 22 shares during the period. Alta Wealth Advisors LLC raised its holdings in shares of AppLovin by 0.6% during the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after purchasing an additional 24 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its holdings in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APP. Weiss Ratings upgraded shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Argus assumed coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price for the company. Wells Fargo & Company boosted their target price on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. BTIG Research reissued a “buy” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Finally, Citigroup restated a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $668.45.

AppLovin Stock Performance

APP opened at $412.48 on Thursday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market cap of $138.57 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 0.70 and a beta of 2.49. The company’s 50 day moving average is $502.88 and its 200 day moving average is $482.25. AppLovin Corporation has a 12-month low of $349.21 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The firm’s revenue was up 58.9% on a year-over-year basis. On average, equities research analysts predict that AppLovin Corporation will post 15.93 EPS for the current year.

Insider Activity

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the sale, the director owned 120,444 shares of the company’s stock, valued at $62,786,252.76. The trade was a 2.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 393,000 shares of company stock worth $197,297,363. Company insiders own 12.81% of the company’s stock.

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.