Axiom Investors LLC DE Cuts Stock Position in AppLovin Corporation $APP

Axiom Investors LLC DE trimmed its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 581,244 shares of the company's stock after selling 39,237 shares during the period. AppLovin comprises 3.4% of Axiom Investors LLC DE's holdings, making the stock its 10th biggest holding. Axiom Investors LLC DE owned approximately 0.17% of AppLovin worth $391,654,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in APP. Allworth Financial LP grew its stake in AppLovin by 131.7% in the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company's stock worth $4,347,000 after acquiring an additional 3,438 shares in the last quarter. APG Asset Management N.V. bought a new stake in shares of AppLovin in the third quarter valued at about $4,958,000. Metis Global Partners LLC raised its holdings in shares of AppLovin by 138.3% in the third quarter. Metis Global Partners LLC now owns 10,094 shares of the company's stock valued at $7,253,000 after acquiring an additional 5,859 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of AppLovin by 35.4% in the third quarter. Stratos Wealth Partners LTD. now owns 27,831 shares of the company's stock valued at $19,998,000 after acquiring an additional 7,271 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of AppLovin by 24.9% in the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company's stock valued at $1,754,996,000 after acquiring an additional 487,492 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on APP shares. The Goldman Sachs Group decreased their price objective on AppLovin from $710.00 to $585.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a "neutral" rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. BTIG Research reiterated a "buy" rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $660.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $664.35.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 8,112 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $483.67, for a total value of $3,923,531.04. Following the completion of the sale, the chief technology officer directly owned 18,805 shares in the company, valued at $9,095,414.35. This trade represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares of the company's stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 347,372 shares of company stock valued at $164,641,603 over the last quarter. Insiders own 13.66% of the company's stock.

AppLovin Stock Down 7.6%

Shares of NASDAQ APP opened at $520.84 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $174.97 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 0.92 and a beta of 2.45. The stock's fifty day simple moving average is $476.67 and its two-hundred day simple moving average is $521.50. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business's revenue for the quarter was up 58.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 EPS. As a group, analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

AppLovin 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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