Unusual Call Option Trade in Applovin Worth $375K

On May 15, 2023 at 15:00:32 ET an unusually large $375.00K block of Call contracts in Applovin Corp – (APP) was bought, with a strike price of $15.00 / share, expiring in 4 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.56 sigmas above the mean, placing it in the 99.97th percentile of all recent large trades made in APP options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 471 funds or institutions reporting positions in Applovin Corp -. This is a decrease of 4 owner(s) or 0.84% in the last quarter. Average portfolio weight of all funds dedicated to APP is 0.34%, a decrease of 20.92%. Total shares owned by institutions increased in the last three months by 20.96% to 183,492K shares. The put/call ratio of APP is 0.55, indicating a bullish outlook.

Analyst Price Forecast Suggests 1.99% Downside

As of May 11, 2023, the average one-year price target for Applovin Corp – is 21.08. The forecasts range from a low of 9.09 to a high of $49.35. The average price target represents a decrease of 1.99% from its latest reported closing price of 21.51.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Applovin Corp – is 2,873MM, a decrease of 1.17%. The projected annual non-GAAP EPS is 0.38.

What are Other Shareholders Doing?

Kohlberg Kravis Roberts & Co. holds 60,735K shares representing 16.36% ownership of the company. No change in the last quarter.

Boston Private Wealth holds 13,800K shares representing 3.72% ownership of the company.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,315K shares representing 1.43% ownership of the company. In it’s prior filing, the firm reported owning 5,216K shares, representing an increase of 1.85%. The firm decreased its portfolio allocation in APP by 49.17% over the last quarter.

Spruce House Investment Management holds 5,000K shares representing 1.35% ownership of the company. In it’s prior filing, the firm reported owning 3,741K shares, representing an increase of 25.18%. The firm increased its portfolio allocation in APP by 6.23% over the last quarter.

First Trust Advisors holds 4,040K shares representing 1.09% ownership of the company. In it’s prior filing, the firm reported owning 3,896K shares, representing an increase of 3.57%. The firm increased its portfolio allocation in APP by 50.75% over the last quarter.

Applovin Background Information
(This description is provided by the company.)

AppLovin’s global technology platform provides developers a powerful, integrated set of solutions to grow their businesses. AppLovin enables developers to market, monetize, analyze and publish their apps. Its studios create popular, immersive content and its technology brings that content to users around the world. AppLovin is headquartered in Palo Alto, California with several offices globally.

See all Applovin Corp – regulatory filings.

This article originally appeared on Fintel

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