Dimensional Fund Advisors LP Sells 161,768 Shares of AppLovin Corporation $APP

Key Points

• Dimensional Fund Advisors cut its AppLovin stake by 10.9% in the first quarter, selling 161,768 shares and leaving it with 1,324,244 shares valued at about $526.6 million.
• Institutional and insider activity has been notable: several other funds adjusted positions, while insiders sold 393,000 shares over the last 90 days, including recent sales by CFO Matthew Stumpf and Director Maynard G. Webb, Jr.
• Wall Street remains broadly positive on AppLovin, with a consensus rating of “Moderate Buy” and an average price target of $668.45, even as some firms trimmed targets. The company also recently beat earnings estimates, reporting strong revenue growth of 58.9% year over year.

Dimensional Fund Advisors LP trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,324,244 shares of the company's stock after selling 161,768 shares during the quarter. Dimensional Fund Advisors LP owned 0.39% of AppLovin worth $526,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in APP. Revolve Wealth Partners LLC bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $294,000. Bison Wealth LLC bought a new position in shares of AppLovin during the 4th quarter valued at approximately $239,000. Integrated Wealth Concepts LLC increased its position in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock valued at $448,000 after purchasing an additional 621 shares during the last quarter. NewEdge Advisors LLC raised its holdings in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock valued at $5,084,000 after buying an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock worth $48,727,000 after buying an additional 9,380 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on APP shares. UBS Group cut their price objective on shares of AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company raised their target price on shares of AppLovin from $571.00 to $575.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Argus began coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a "buy" rating and a $520.00 price target for the company. Morgan Stanley reiterated an "overweight" rating on shares of AppLovin in a report on Wednesday, May 27th. Finally, Benchmark reissued a "buy" rating on shares of AppLovin in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $668.45.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the transaction, the director directly owned 120,444 shares in the company, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 393,000 shares of company stock worth $197,297,363 over the last ninety days. 12.81% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of AppLovin stock opened at $424.60 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock's fifty day moving average is $504.94 and its two-hundred day moving average is $485.82. AppLovin Corporation has a 52 week low of $343.00 and a 52 week high of $745.61. The company has a market capitalization of $142.64 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $1.67 earnings per share. As a group, analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current 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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