AppLovin Corporation $APP Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,885 shares of the company’s stock after selling 1,455 shares during the quarter. Advisory Services Network LLC’s holdings in AppLovin were worth $17,881,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after purchasing an additional 7,051,663 shares during the last quarter. State Street Corp raised its position in shares of AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares during the period. Norges Bank bought a new stake in AppLovin in the second quarter valued at $951,541,000. Rakuten Investment Management Inc. bought a new stake in AppLovin in the 3rd quarter valued at about $1,456,108,000. Finally, Jennison Associates LLC raised its holdings in shares of AppLovin by 55.2% during the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after buying an additional 1,381,970 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the sale, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 188,033 shares of company stock worth $90,662,374. Company insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on APP shares. Arete Research set a $340.00 price objective on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Citigroup reduced their price objective on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Morgan Stanley set a $720.00 target price on shares of AppLovin in a report on Thursday, February 12th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $654.50.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $459.09 on Wednesday. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The firm has a market cap of $154.84 billion, a price-to-earnings ratio of 47.09, a P/E/G ratio of 0.80 and a beta of 2.51. The stock’s fifty day moving average price is $487.56 and its two-hundred day moving average price is $574.47. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The business’s revenue was up 66.0% on a year-over-year basis. On average, equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

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.