AppLovin Corporation $APP Shares Sold by Ethic Inc.

Key Points

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Ethic Inc. trimmed its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,966 shares of the company's stock after selling 2,691 shares during the quarter. Ethic Inc.'s holdings in AppLovin were worth $1,969,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in APP. Dynasty Wealth Management LLC increased its holdings in AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after buying an additional 2,700,399 shares in the last quarter. Capital World Investors purchased a new position in AppLovin in the fourth quarter valued at $421,470,000. Vanguard Group Inc. increased its holdings in AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after buying an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. increased its holdings in AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in AppLovin by 86.5% in the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock valued at $632,478,000 after buying an additional 1,107,104 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Vasily Shikin sold 34,766 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the transaction, the chief technology officer owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. The trade was a 32.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director directly owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,022,214 shares of company stock valued at $448,294,925. 13.66% of the stock is currently owned by insiders.

AppLovin Price Performance

Shares of AppLovin stock traded down $5.8960 during trading hours on Wednesday, reaching $406.7040. 4,601,715 shares of the company's stock were exchanged, compared to its average volume of 7,105,075. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The company has a market capitalization of $137.57 billion, a P/E ratio of 57.87, a price-to-earnings-growth ratio of 2.45 and a beta of 2.43. The business has a fifty day moving average of $372.50 and a two-hundred day moving average of $343.87. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

Analyst Ratings Changes

A number of research firms have weighed in on APP. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Wells Fargo & Company lifted their price objective on shares of AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. The Goldman Sachs Group boosted their price target on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Zacks Research raised shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus target price 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.