Linden Thomas Advisory Services LLC Has $5.43 Million Stake in AppLovin Corporation (NASDAQ:APP)

Linden Thomas Advisory Services LLC lifted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,491 shares of the company's stock after acquiring an additional 1,097 shares during the period. AppLovin makes up 0.7% of Linden Thomas Advisory Services LLC's portfolio, making the stock its 14th biggest position. Linden Thomas Advisory Services LLC's holdings in AppLovin were worth $5,430,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. FMR LLC grew 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 acquiring an additional 5,957,885 shares in the last quarter. Norges Bank acquired a new position in AppLovin during the 4th quarter worth $828,138,000. Arrowstreet Capital Limited Partnership grew its holdings in AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. Alliancebernstein L.P. grew its holdings in AppLovin by 193.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company's stock worth $882,469,000 after acquiring an additional 1,797,027 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of AppLovin in the 4th quarter worth about $421,470,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup restated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. HSBC set a $436.00 price target on shares of AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Oppenheimer restated an "outperform" rating and issued a $500.00 price target (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Finally, Jefferies Financial Group raised their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $438.43.

Insider Buying and Selling

In other news, Director Herald Y. Chen sold 100,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $419.91, for a total value of $41,991,000.00. Following the completion of the sale, the director owned 181,929 shares of the company's stock, valued at approximately $76,393,806.39. The trade was a 35.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara Messing sold 1,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the transaction, the director directly owned 9,510 shares of the company's stock, valued at approximately $3,637,194.60. This trade represents a 13.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock valued at $455,062,980 in the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Stock Down 3.2%

Shares of NASDAQ APP traded down $11.22 during midday trading on Friday, reaching $335.10. The company's stock had a trading volume of 3,575,879 shares, compared to its average volume of 6,221,989. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock has a market capitalization of $113.39 billion, a price-to-earnings ratio of 60.49, a PEG ratio of 2.10 and a beta of 2.42. The stock has a 50 day simple moving average of $357.68 and a 200-day simple moving average of $334.38.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. Equities research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current 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.