Hsbc Holdings PLC Sells 127,772 Shares of AppLovin Co. (NASDAQ:APP)

Hsbc Holdings PLC decreased its holdings in AppLovin Co. (NASDAQ:APP) by 75.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,225 shares of the company’s stock after selling 127,772 shares during the quarter. Hsbc Holdings PLC’s holdings in AppLovin were worth $3,507,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in APP. Quest Partners LLC purchased a new stake in AppLovin in the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of AppLovin during the 2nd quarter valued at approximately $37,000. Summit Securities Group LLC purchased a new stake in AppLovin in the 2nd quarter worth approximately $42,000. Covestor Ltd raised its stake in AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new position in AppLovin during the first quarter valued at approximately $38,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent analyst reports. Wedbush decreased their price objective on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup boosted 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. Benchmark increased their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, Bank of America increased their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.44.

AppLovin Stock Performance

AppLovin stock opened at $130.71 on Thursday. The company’s 50-day moving average price is $90.55 and its 200-day moving average price is $81.78. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market cap of $43.69 billion, a PE ratio of 77.80, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $131.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share 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 analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. 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 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is currently owned by insiders.

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.