AppLovin Corporation $APP Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in AppLovin Corporation (NASDAQ:APP) by 63.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 347,466 shares of the company’s stock after selling 594,860 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in AppLovin were worth $234,132,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Redhawk Wealth Advisors Inc. raised its stake in shares of AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the period. Claro Advisors LLC raised its stake in AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after acquiring an additional 20 shares during the period. Strategic Advocates LLC raised its stake in AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after acquiring an additional 21 shares during the period. Finally, Finivi Inc. raised its stake in AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 8,112 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $483.67, for a total transaction of $3,923,531.04. Following the sale, the chief technology officer directly owned 18,805 shares in the company, valued at approximately $9,095,414.35. This trade represents a 30.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 226,014 shares of company stock worth $113,073,400. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $496.77 on Monday. The stock has a market capitalization of $166.88 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a 50 day moving average price of $482.88 and a 200 day moving average price of $520.57.

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

Wall Street Analysts Forecast Growth

APP has been the topic of several research reports. BTIG Research reiterated a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Wells Fargo & Company increased their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. KeyCorp set a $775.00 target price on shares of AppLovin in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $669.62.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

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.