Jacobson & Schmitt Advisors LLC Cuts Position in AppLovin Corporation $APP

Jacobson & Schmitt Advisors LLC decreased its position in AppLovin Corporation (NASDAQ:APP) by 9.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,704 shares of the company’s stock after selling 3,514 shares during the quarter. AppLovin accounts for 2.1% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 27th biggest holding. Jacobson & Schmitt Advisors LLC’s holdings in AppLovin were worth $11,799,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of APP. Revolve Wealth Partners LLC bought a new stake in AppLovin in the fourth quarter worth $294,000. Bison Wealth LLC purchased a new position in shares of AppLovin in the 4th quarter worth $239,000. DAVENPORT & Co LLC increased its holdings in shares of AppLovin by 15.3% in the 1st quarter. DAVENPORT & Co LLC now owns 2,058 shares of the company’s stock worth $545,000 after buying an additional 273 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of AppLovin by 33.5% in the 1st quarter. Principal Financial Group Inc. now owns 78,928 shares of the company’s stock worth $20,914,000 after buying an additional 19,822 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in shares of AppLovin by 37.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,906 shares of the company’s stock valued at $770,000 after buying an additional 790 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

APP stock opened at $608.68 on Wednesday. AppLovin Corporation has a twelve month low of $160.52 and a twelve month high of $745.61. The firm has a market cap of $205.89 billion, a price-to-earnings ratio of 86.46, a PEG ratio of 3.43 and a beta of 2.50. The business’s fifty day simple moving average is $596.21 and its two-hundred day simple moving average is $445.26. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on APP shares. Piper Sandler boosted their price objective on AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Royal Bank Of Canada began coverage on AppLovin in a report on Monday, October 13th. They issued an “outperform” rating and a $700.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. The Goldman Sachs Group restated a “neutral” rating and issued a $630.00 price target on shares of AppLovin in a research report on Tuesday, October 14th. Finally, Morgan Stanley boosted their price objective on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.39.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,156,788 shares of company stock valued at $514,863,333 in the last quarter. Corporate insiders own 13.66% of the company’s stock.

About AppLovin

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.