AppLovin Corporation $APP Holdings Cut by PDT Partners LLC

PDT Partners LLC cut its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 90.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,344 shares of the company's stock after selling 12,660 shares during the quarter. PDT Partners LLC's holdings in AppLovin were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Durable Capital Partners LP acquired a new position in AppLovin during the 1st quarter valued at approximately $88,913,000. Newbrook Capital Advisors LP lifted its stake in AppLovin by 35.1% in the first quarter. Newbrook Capital Advisors LP now owns 90,891 shares of the company's stock valued at $24,083,000 after buying an additional 23,612 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in shares of AppLovin by 6.1% during the first quarter. Focus Partners Advisor Solutions LLC now owns 2,187 shares of the company's stock valued at $580,000 after acquiring an additional 125 shares during the period. QVT Financial LP bought a new position in shares of AppLovin during the first quarter worth about $765,000. Finally, Point72 Italy S.r.l. acquired a new stake in shares of AppLovin in the 1st quarter worth about $4,637,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Oppenheimer reissued an "outperform" rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. UBS Group lifted their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Piper Sandler boosted their price objective on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. BTIG Research increased their price objective on AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Citigroup restated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and a consensus target price of $478.81.

AppLovin Stock Performance

APP opened at $499.97 on Friday. The business has a 50 day moving average price of $398.93 and a two-hundred day moving average price of $348.84. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market capitalization of $169.11 billion, a price-to-earnings ratio of 71.02, a price-to-earnings-growth ratio of 2.72 and a beta of 2.44. AppLovin Corporation has a 1-year low of $82.51 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company's quarterly revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. Research analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at $1,470,280,707.28. This represents a 0.88% 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, insider Victoria Valenzuela sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $450.00, for a total transaction of $6,750,000.00. Following the sale, the insider owned 304,955 shares of the company's stock, valued at $137,229,750. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,122,938 shares of company stock valued at $497,688,184. 13.66% of the stock is owned by insiders.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.

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