Trilogy Capital Inc. Sells 2,579 Shares of AppLovin Co. (NASDAQ:APP)

Trilogy Capital Inc. lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 17.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,048 shares of the company’s stock after selling 2,579 shares during the period. Trilogy Capital Inc.’s holdings in AppLovin were worth $1,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC bought a new position in AppLovin in the 2nd quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of AppLovin in the second quarter worth approximately $34,000. Covestor Ltd increased its position in shares of AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in AppLovin during the second quarter valued at approximately $37,000. Finally, Atlas Capital Advisors LLC bought a new stake in AppLovin during the first quarter valued at approximately $38,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock opened at $158.85 on Tuesday. The stock has a market capitalization of $52.26 billion, a price-to-earnings ratio of 94.55, a PEG ratio of 2.07 and a beta of 1.92. The firm’s 50-day moving average price is $113.67 and its two-hundred day moving average price is $91.00. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $159.81.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.22 EPS. AppLovin’s revenue was up 44.0% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Co. will post 3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on APP shares. Bank of America raised their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. BTIG Research lifted their price target on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Citigroup increased their price objective on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the company from $103.00 to $150.00 in a report on Monday, October 14th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $110.01.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last quarter. 14.69% of the stock is owned by corporate insiders.

AppLovin Company 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.