AppLovin Corporation (NASDAQ:APP) Position Boosted by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC raised its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 5.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,491 shares of the company's stock after purchasing an additional 1,097 shares during the quarter. AppLovin accounts for 0.7% of Linden Thomas Advisory Services LLC's holdings, making the stock its 14th largest holding. Linden Thomas Advisory Services LLC's holdings in AppLovin were worth $5,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. Norges Bank purchased a new stake in shares of AppLovin in the 4th quarter valued at about $828,138,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after purchasing an additional 2,373,885 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of AppLovin by 193.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company's stock valued at $882,469,000 after purchasing an additional 1,797,027 shares during the last quarter. Finally, Capital World Investors purchased a new stake in AppLovin during the 4th quarter valued at approximately $421,470,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on APP shares. Scotiabank raised AppLovin to a "strong-buy" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Wedbush upgraded AppLovin to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.43.

Insider Buying and Selling at AppLovin

In other news, Director Barbara Messing sold 1,500 shares of AppLovin stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction of $573,690.00. Following the sale, the director directly owned 9,510 shares of the company's stock, valued at approximately $3,637,194.60. The trade was a 13.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 9,714 shares of AppLovin stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00. Following the sale, the chief financial officer directly owned 192,421 shares in the company, valued at approximately $81,394,083. The trade was a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company's stock.

AppLovin Trading Up 2.3%

Shares of APP traded up $7.99 during trading hours on Wednesday, hitting $352.74. The stock had a trading volume of 4,228,839 shares, compared to its average volume of 6,202,623. The company's fifty day simple moving average is $354.67 and its 200 day simple moving average is $334.24. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15. The firm has a market cap of $119.36 billion, a P/E ratio of 63.67, a P/E/G ratio of 2.06 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $0.67 earnings per share. The firm's revenue was up 40.3% compared to the same quarter last year. Equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

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.