AppLovin Corporation $APP Shares Sold by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd cut its AppLovin stake by 78.9% in the second quarter, selling 4,646 shares and retaining 1,240 shares valued at approximately $639,000.
• Other major institutional investors increased their positions, and institutional investors collectively own 41.85% of AppLovin.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $529.39 target price. AppLovin reported $3.76 in quarterly EPS and $1.92 billion in revenue, up 52.8% year over year, while shares recently opened at $334.24.

WINTON GROUP Ltd reduced its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 78.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,240 shares of the company's stock after selling 4,646 shares during the quarter. WINTON GROUP Ltd's holdings in AppLovin were worth $639,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in APP. California State Teachers Retirement System lifted its holdings in AppLovin by 50,874.8% in the 2nd quarter. California State Teachers Retirement System now owns 178,017,633 shares of the company's stock valued at $91,720,025,000 after purchasing an additional 177,668,406 shares in the last quarter. State Street Corp boosted its stake in shares of AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company's stock worth $8,021,721,000 after purchasing an additional 52,377 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company's stock worth $4,817,269,000 after buying an additional 448,005 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of AppLovin by 5.2% during the first quarter. WCM Investment Management LLC now owns 5,001,600 shares of the company's stock worth $1,860,995,000 after buying an additional 245,290 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of AppLovin by 12.3% in the fourth quarter. Invesco Ltd. now owns 4,821,046 shares of the company's stock valued at $3,248,517,000 after buying an additional 528,294 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on APP shares. Piper Sandler decreased their target price on shares of AppLovin from $385.00 to $325.00 and set a "neutral" rating on the stock in a research report on Friday, August 21st. Needham & Company LLC cut their price target on AppLovin from $500.00 to $475.00 and set a "buy" rating for the company in a report on Wednesday, August 26th. Evercore reissued an "outperform" rating and set a $510.00 price target on shares of AppLovin in a research note on Tuesday, September 1st. Royal Bank Of Canada decreased their price objective on AppLovin from $700.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings raised AppLovin from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $529.39.

AppLovin Stock Performance

Shares of APP stock opened at $334.24 on Tuesday. AppLovin Corporation has a one year low of $297.50 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The company has a 50 day moving average price of $369.26 and a 200 day moving average price of $437.27. The firm has a market capitalization of $111.85 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $3.76 earnings per share for the quarter, hitting analysts' consensus estimates of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $2.39 earnings per share. AppLovin's revenue was up 52.8% on a year-over-year basis. Sell-side analysts anticipate that AppLovin Corporation will post 15.53 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, Director G Jr sold 3,076 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the transaction, the director directly owned 120,444 shares of the company's stock, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.81% of the company's stock.

AppLovin Company Profile

AppLovin Corporation NASDAQ: APP is a technology company that provides software and services designed to help mobile application developers grow their businesses. Its platform supports user acquisition, advertising, monetization, measurement and other functions that enable developers to attract users and generate revenue from their applications.

AppLovin's offerings include AXON, an artificial-intelligence-powered software engine used to optimize advertising and user-acquisition campaigns; MAX, a platform for managing in-app advertising and mediation; and AppDiscovery, which helps developers promote their applications.

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