AppLovin Corporation $APP Stock Holdings Lessened by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC trimmed its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,862 shares of the company's stock after selling 4,523 shares during the quarter. AppLovin comprises 2.8% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 5th biggest holding. Abacus FCF Advisors LLC's holdings in AppLovin were worth $21,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company's stock worth $16,926,746,000 after acquiring an additional 166,117 shares during the period. State Street Corp boosted its holdings in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company's stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Invesco Ltd. increased its position in AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company's stock worth $3,084,514,000 after purchasing an additional 367,083 shares during the period. Jennison Associates LLC increased its position in AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company's stock worth $2,792,355,000 after purchasing an additional 1,381,970 shares during the period. Finally, Kensico Capital Management Corp grew its holdings in AppLovin by 3.1% during the third quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company's stock worth $2,240,767,000 after acquiring an additional 95,000 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Down 1.3%

Shares of NASDAQ APP opened at $448.29 on Friday. The firm has a market cap of $151.20 billion, a P/E ratio of 45.98, a price-to-earnings-growth ratio of 0.79 and a beta of 2.50. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. AppLovin Corporation has a 1 year low of $246.00 and a 1 year high of $745.61. The firm's 50 day moving average price is $433.47 and its 200 day moving average price is $540.02.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $1.73 EPS. AppLovin's revenue was up 66.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.72 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the sale, the chief executive officer directly owned 2,480,414 shares of the company's stock, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 in the last quarter. 13.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on APP. Benchmark restated a "buy" rating on shares of AppLovin in a research report on Friday, March 6th. Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $700.00 target price on shares of AppLovin in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on AppLovin in a report on Thursday, February 12th. Finally, The Goldman Sachs Group decreased their target price on AppLovin from $710.00 to $585.00 and set a "neutral" rating on the stock in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $673.25.

AppLovin Company 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.

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