Jacobson & Schmitt Advisors LLC Has $9.86 Million Stock Position in AppLovin Corporation (NASDAQ:APP)

Jacobson & Schmitt Advisors LLC trimmed its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 26.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,218 shares of the company's stock after selling 13,091 shares during the quarter. AppLovin comprises approximately 2.0% of Jacobson & Schmitt Advisors LLC's portfolio, making the stock its 27th biggest position. Jacobson & Schmitt Advisors LLC's holdings in AppLovin were worth $9,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC raised its stake in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after purchasing an additional 33 shares during the last quarter. Forum Financial Management LP boosted its stake in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after acquiring an additional 33 shares during the last quarter. Argentarii LLC boosted its stake in shares of AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after acquiring an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $97,000 after acquiring an additional 43 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on APP shares. Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Benchmark restated a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. FBN Securities initiated coverage on AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Wedbush upgraded AppLovin to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $470.00 target price (up previously from $455.00) on shares of AppLovin in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $438.43.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 100,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the sale, the director directly owned 181,929 shares of the company's stock, valued at $76,393,806.39. The trade was a 35.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the sale, the director directly owned 3,451 shares in the company, valued at $1,450,455.30. This trade represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock valued at $455,062,980 over the last ninety days. Company insiders own 13.66% of the company's stock.

AppLovin Price Performance

Shares of APP traded up $8.28 during midday trading on Thursday, reaching $363.78. The stock had a trading volume of 4,574,798 shares, compared to its average volume of 6,255,926. AppLovin Corporation has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The firm's 50 day moving average price is $361.32 and its 200-day moving average price is $334.61. The company has a market capitalization of $123.10 billion, a P/E ratio of 65.66, a P/E/G ratio of 2.10 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company's quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. On average, analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.