AppLovin Corporation (NASDAQ:APP) Shares Acquired by Linden Thomas Advisory Services LLC

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

A number of other institutional investors have also added to or reduced their stakes in APP. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin during the fourth quarter valued at approximately $25,000. Atala Financial Inc bought a new position in shares of AppLovin during the first quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new position in shares of AppLovin during the first quarter valued at $27,000. Tucker Asset Management LLC bought a new position in shares of AppLovin during the fourth quarter valued at $28,000. Finally, ORG Wealth Partners LLC bought a new position in shares of AppLovin during the first quarter valued at $29,000. Institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Scotiabank raised shares of AppLovin to a "strong-buy" rating in a research report on Tuesday. Benchmark reissued a "buy" rating and set a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. FBN Securities assumed coverage on AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective for the company. Finally, Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $438.43.

AppLovin Trading Down 1.8%

NASDAQ APP traded down $6.42 during trading on Thursday, hitting $346.32. The stock had a trading volume of 5,618,175 shares, compared to its average volume of 6,232,579. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. The stock has a market capitalization of $117.19 billion, a price-to-earnings ratio of 62.51, a P/E/G 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. 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 (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned $0.67 earnings per share. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. Sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity

In related news, CTO Vasily Shikin sold 17,734 shares of AppLovin stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $353.41, for a total value of $6,267,372.94. Following the completion of the sale, the chief technology officer directly owned 70,889 shares in the company, valued at $25,052,881.49. The trade was a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 100,000 shares of AppLovin 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 $76,393,806.39. The trade was a 35.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Insiders own 13.66% of the company's stock.

About AppLovin

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.