Dimensional Fund Advisors LP Sells 38,798 Shares of AppLovin Corporation $APP

Key Points

• Dimensional Fund Advisors LP reduced its stake in AppLovin Corporation by 2.2%, selling 38,798 shares and maintaining ownership of approximately 1.74 million shares worth $460.9 million.
• AppLovin reported $2.26 earnings per share (EPS) for the last quarter, which exceeded analysts' estimates of $2.05, even though its revenue of $1.26 billion fell short of expectations.
• Analyst ratings are generally positive, with a consensus rating of "Moderate Buy" and an average target price of $472.33, as several firms have upgraded their price objectives for the stock.

Dimensional Fund Advisors LP cut its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,739,148 shares of the company's stock after selling 38,798 shares during the period. Dimensional Fund Advisors LP owned about 0.51% of AppLovin worth $460,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the fourth quarter valued at about $25,000. Atala Financial Inc purchased a new stake in shares of AppLovin during the first quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of AppLovin during the first quarter worth about $29,000. Alpine Bank Wealth Management bought a new stake in AppLovin during the 1st quarter valued at approximately $27,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in AppLovin during the 1st quarter valued at approximately $29,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

Shares of NASDAQ APP traded down $0.22 during mid-day trading on Wednesday, hitting $412.38. 6,365,777 shares of the company's stock traded hands, compared to its average volume of 5,983,904. The company has a market capitalization of $139.49 billion, a P/E ratio of 58.58, a PEG ratio of 2.31 and a beta of 2.43. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company's 50-day moving average is $373.08 and its two-hundred day moving average is $344.34.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company's quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. On average, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. The Goldman Sachs Group upped their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, BTIG Research increased their price objective on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $472.33.

Insider Transactions at AppLovin

In related news, Director Barbara Messing sold 1,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the transaction, the director directly owned 9,510 shares in the company, valued at approximately $3,637,194.60. This represents a 13.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total value of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company's stock, valued at $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,022,214 shares of company stock worth $448,294,925. 13.66% of the stock is currently owned by insiders.

AppLovin Company 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.