Legal & General Group Plc trimmed its position in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,506,428 shares of the company’s stock after selling 23,306 shares during the period. Legal & General Group Plc’s holdings in AppLovin were worth $1,015,061,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its stake in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after acquiring an additional 18 shares during the period. Verdence Capital Advisors LLC increased its stake in AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the period. Claro Advisors LLC increased its stake in AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after acquiring an additional 20 shares during the period. Finally, Strategic Advocates LLC boosted its holdings in AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after purchasing an additional 21 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on APP. Argus began coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Scotiabank lifted their price objective on AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $664.35.
AppLovin Price Performance
NASDAQ APP opened at $481.68 on Monday. The company has a market capitalization of $161.82 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 0.78 and a beta of 2.37. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The stock’s 50 day moving average is $446.31 and its two-hundred day moving average is $523.19.
AppLovin (NASDAQ:APP – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 EPS. Equities analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.
Insider Transactions at AppLovin
In other news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer directly owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 365,244 shares of company stock valued at $169,584,607 in the last three months. 13.66% of the stock is owned by corporate insiders.
AppLovin Profile
AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.
Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.
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