AppLovin Corporation

(NASDAQ Global Select)
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Slightly Bullish +25

Catalyst Capital Advisors LLC Decreases Stake in AppLovin Corporation ...

AI-generated analysis

πŸ“‰ Catalyst Capital Advisors LLC cut its AppLovin stake by 97.7% in Q1, retaining only 118 shares worth $47,000.

πŸ“ˆ Revolve Wealth Partners LLC and Bison Wealth LLC purchased new stakes valued at $294,000 and $239,000 respectively in Q4.

πŸ›οΈ The Treasurer of the State of North Carolina increased holdings by 7.2% to own shares worth $48.7 million.

πŸ“Š Institutional investors and hedge funds collectively own 41.85% of AppLovin's outstanding stock.

πŸ”Ό Wells Fargo raised its price target to $575.00 with an 'overweight' rating on July 7th.

πŸ”½ UBS Group dropped its price target from $740.00 to $716.00 while maintaining a 'buy' rating.

πŸ’° Director Eduardo Vivas sold 163,910 shares for approximately $82.6 million on June 16th.

πŸ‘¨β€πŸ’» CTO Vasily Shikin sold 62,804 shares for roughly $30.4 million in a May transaction.

πŸ“‰ Insiders sold a total of 393,000 shares valued at $197.3 million over the last 90 days.

🎯 The stock currently trades with a market cap of $142.62 billion and a PE ratio of 36.47.

Bullish Signals
  • NewEdge Advisors LLC increased its stake by 58.0% to hold 14,523 shares worth $5.08 million.
  • The Treasurer of the State of North Carolina raised holdings by 7.2% to own 139,189 shares valued at $48.7 million.
  • Wells Fargo upgraded its outlook with an 'overweight' rating and raised the price target to $575.00.
  • Argus initiated coverage with a 'buy' rating and set a $520.00 price objective.
  • UBS Group maintains a 'buy' rating despite lowering its price target, indicating continued confidence in the business model.
Risk Factors
  • Catalyst Capital Advisors LLC drastically reduced its position by 97.7%, selling nearly all holdings.
  • Director Eduardo Vivas sold 163,910 shares for $82.6 million, representing a 2.36% decrease in his position.
  • CTO Vasily Shikin sold 62,804 shares for $30.4 million, reducing his ownership by 1.93%.
  • Insiders collectively sold 393,000 shares valued at $197.3 million in the last 90 days.
  • UBS Group lowered its price target from $740.00 to $716.00.
Full Analysis
Catalyst Capital Advisors LLC significantly reduced its stake in AppLovin Corporation (NASDAQ:APP) by 97.7% during the first quarter, selling 4,994 shares and retaining only 118 shares valued at $47,000. This move contrasts with other institutional activity where Revolve Wealth Partners LLC and Bison Wealth LLC established new positions worth $294,000 and $239,000 respectively in the fourth quarter. Meanwhile, Integrated Wealth Concepts LLC increased its holdings by 58.0% to own 1,692 shares valued at $448,000. Several other major investors adjusted their positions during the second quarter. NewEdge Advisors LLC lifted its stake by 5.7% to hold 14,523 shares worth approximately $5.08 million, while the Treasurer of the State of North Carolina increased holdings by 7.2% to own 139,189 shares valued at roughly $48.7 million. Collectively, institutional investors and hedge funds maintain a 41.85% ownership stake in the company. Analyst sentiment remains mixed with varying price targets. Wells Fargo raised its target price to $575.00 with an 'overweight' rating, while Argus initiated coverage with a 'buy' rating and $520.00 objective. Conversely, UBS Group lowered its price target from $740.00 to $716.00, though it maintained a 'buy' rating. The consensus rating is currently 'Moderate Buy' with an average target price of $668.45. Insider selling activity was notable in recent months. Director Eduardo Vivas sold 163,910 shares for approximately $82.6 million on June 16th, reducing his position by 2.36%. CTO Vasily Shikin also sold 62,804 shares for about $30.4 million in May, a 1.93% decrease in ownership. In total, insiders sold 393,000 shares valued at roughly $197.3 million over the last 90 days.