Entropy Technologies LP Sells 1,736 Shares of AppLovin Corporation (NASDAQ:APP)

Entropy Technologies LP reduced its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 31.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,824 shares of the company's stock after selling 1,736 shares during the period. Entropy Technologies LP's holdings in AppLovin were worth $1,013,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APP. Vanguard Group Inc. raised its position in shares of AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after buying an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. raised its position in AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after purchasing an additional 1,185,859 shares in the last quarter. Invesco Ltd. raised its position in AppLovin by 32.9% during the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock valued at $1,062,876,000 after purchasing an additional 992,316 shares in the last quarter. Dynasty Wealth Management LLC raised its position in AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after purchasing an additional 2,700,399 shares in the last quarter. Finally, Jennison Associates LLC raised its position in AppLovin by 86.5% during the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock valued at $632,478,000 after purchasing an additional 1,107,104 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 2.1%

APP stock opened at $465.58 on Tuesday. AppLovin Corporation has a fifty-two week low of $74.12 and a fifty-two week high of $525.15. The business's 50 day moving average price is $368.05 and its two-hundred day moving average price is $340.46. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market capitalization of $157.55 billion, a price-to-earnings ratio of 66.13, a price-to-earnings-growth ratio of 2.60 and a beta of 2.43.

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

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director owned 221,209 shares in the company, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 34,766 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the transaction, the chief technology officer owned 70,889 shares in the company, valued at $25,069,185.96. This trade represents a 32.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 800,398 shares of company stock worth $301,556,641. Company insiders own 13.66% of the company's stock.

Analyst Ratings Changes

APP has been the topic of a number of research reports. Jefferies Financial Group raised their price target on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wedbush restated an "outperform" rating and set a $620.00 price target on shares of AppLovin in a research report on Thursday, August 7th. Scotiabank raised their price target on AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research report on Thursday, August 7th. BTIG Research raised their price target on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Oppenheimer restated an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $472.33.

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.

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