AppLovin Corporation $APP Shares Sold by Greenstone Partners & Co. LLC

Key Points

• Greenstone Partners & Co. LLC reduced its stake in AppLovin Corporation by 41.6%, now holding approximately 404,315 shares valued at around $107 million, making it the fund's largest holding.
• Institutional investors collectively own 41.85% of AppLovin's stock, with several funds like Vanguard and Price T Rowe Associates increasing their positions significantly in the first quarter.
• Analyst ratings are generally positive, with two analysts rating the stock as Strong Buy and an average target price of $472.86, indicating strong market confidence in AppLovin's growth potential.

Greenstone Partners & Co. LLC lessened its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 41.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 404,315 shares of the company's stock after selling 288,124 shares during the quarter. AppLovin comprises about 28.4% of Greenstone Partners & Co. LLC's holdings, making the stock its largest holding. Greenstone Partners & Co. LLC owned 0.12% of AppLovin worth $107,131,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after acquiring an additional 1,769,400 shares during the period. Baillie Gifford & Co. grew its position in AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after acquiring an additional 1,185,859 shares during the period. Invesco Ltd. grew its position in AppLovin by 32.9% in the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock worth $1,062,876,000 after acquiring an additional 992,316 shares during the period. Finally, Dynasty Wealth Management LLC grew its position in AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after acquiring an additional 2,700,399 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

APP has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. The Goldman Sachs Group increased their price objective on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wedbush reiterated an "outperform" rating and issued a $620.00 price objective on shares of AppLovin in a research report on Thursday, August 7th. Finally, BTIG Research increased their price objective on AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $472.86.

AppLovin Trading Up 1.5%

APP opened at $418.76 on Friday. AppLovin Corporation has a 52 week low of $82.51 and a 52 week high of $525.15. The business has a fifty day simple moving average of $373.84 and a 200-day simple moving average of $344.71. The firm has a market cap of $141.65 billion, a P/E ratio of 59.48, a P/E/G ratio of 2.31 and a beta of 2.43. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business posted $0.89 earnings per share. The company's quarterly revenue was up 77.1% on a year-over-year basis. On average, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 2,987 shares of AppLovin stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $413.98, for a total value of $1,236,558.26. Following the completion of the transaction, the director directly owned 3,964 shares in the company, valued at approximately $1,641,016.72. This trade represents a 42.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $464.69, for a total value of $92,938,000.00. Following the completion of the transaction, the director owned 381,929 shares of the company's stock, valued at approximately $177,478,587.01. This trade represents a 34.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 939,714 shares of company stock valued at $419,126,104. Corporate insiders own 13.66% of the company's stock.

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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