AppLovin Corporation $APP is Axiom Investors LLC DE’s 10th Largest Position

Axiom Investors LLC DE lowered its stake in AppLovin Corporation (NASDAQ:APP) by 6.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 581,244 shares of the company’s stock after selling 39,237 shares during the period. AppLovin makes up 3.4% of Axiom Investors LLC DE’s investment portfolio, making the stock its 10th largest position. Axiom Investors LLC DE’s holdings in AppLovin were worth $391,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in APP. Board of the Pension Protection Fund purchased a new position in shares of AppLovin in the fourth quarter worth $27,000. Washington Trust Advisors Inc. raised its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter worth $32,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the last quarter. Finally, Graney & King LLC purchased a new position in shares of AppLovin in the third quarter worth $36,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 7.6%

Shares of AppLovin stock opened at $520.84 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a fifty day moving average price of $476.67 and a 200 day moving average price of $521.50. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The stock has a market cap of $174.97 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 0.92 and a beta of 2.45.

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

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer owned 3,189,739 shares in the company, valued at $1,545,173,366.38. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction dated Monday, March 16th. The shares were 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 owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 347,372 shares of company stock valued at $164,641,603 in the last ninety days. Company insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. Jefferies Financial Group decreased their price target on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. The Goldman Sachs Group reduced their target price on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Scotiabank raised their target price on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Citigroup reissued a “buy” rating and set a $710.00 target price on shares of AppLovin in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $664.35.

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.