Cookson Peirce & Co. Inc. Sells 2,164 Shares of AppLovin Corporation $APP

Cookson Peirce & Co. Inc. reduced its position in shares of AppLovin Corporation (NASDAQ:APP) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,636 shares of the company’s stock after selling 2,164 shares during the period. AppLovin accounts for about 1.7% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 16th biggest position. Cookson Peirce & Co. Inc.’s holdings in AppLovin were worth $40,858,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in APP. Vanguard Group Inc. raised its position in AppLovin by 39.4% in the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after acquiring an additional 7,051,663 shares during the period. State Street Corp raised its position in AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares during the period. Norges Bank bought a new stake in AppLovin in the fourth quarter worth about $2,040,321,000. Capital Research Global Investors bought a new stake in AppLovin in the third quarter worth about $743,899,000. Finally, Northern Trust Corp raised its position in AppLovin by 46.8% in the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after acquiring an additional 756,660 shares during the period. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on APP shares. The Goldman Sachs Group lowered their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Citigroup reaffirmed a “buy” rating and issued a $710.00 price objective on shares of AppLovin in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, Argus started coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. One equities research 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 company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

Insider Buying and Selling at AppLovin

In other news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction dated Tuesday, March 10th. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 467,092 shares of company stock worth $220,268,340 over the last three months. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

APP opened at $557.20 on Friday. The company has a market capitalization of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average price of $470.43 and a 200-day moving average price of $521.43. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. Equities analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

About AppLovin

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.