WINTON GROUP Ltd Trims Stake in AppLovin Corporation $APP

Key Points

• WINTON GROUP Ltd cut its AppLovin stake by 14.7% in the fourth quarter, selling 2,980 shares and leaving it with 17,320 shares valued at about $11.7 million.
• AppLovin’s latest earnings beat expectations, with EPS of $3.56 versus $3.44 forecast and revenue of $1.84 billion versus $1.77 billion expected, while revenue jumped 58.9% year over year.
• Analysts remain broadly positive on APP: the stock has a consensus rating of “Moderate Buy,” and the average target price sits at $664.35 despite some recent target cuts.

WINTON GROUP Ltd reduced its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,320 shares of the company's stock after selling 2,980 shares during the quarter. WINTON GROUP Ltd's holdings in AppLovin were worth $11,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of APP. Washington Trust Advisors Inc. boosted its position in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in AppLovin during the 4th quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its position in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock valued at $33,000 after acquiring an additional 17 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in AppLovin during the 4th quarter valued at $32,000. Finally, Graney & King LLC bought a new stake in AppLovin during the 3rd quarter valued at $36,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APP. Needham & Company LLC reaffirmed a "buy" rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday, May 28th. UBS Group dropped their target price on AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings cut AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. Arete Research set a $340.00 target price on AppLovin and gave the company a "neutral" rating in a research report on Monday, March 2nd. Finally, Oppenheimer dropped their target price on AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and an average target price of $664.35.

AppLovin Stock Down 0.3%

AppLovin stock opened at $557.20 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The business has a fifty day moving average price of $470.43 and a 200-day moving average price of $521.43.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business's quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 EPS. Equities research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the sale, the director owned 123,520 shares of the company's stock, valued at $71,893,580.80. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company's stock, valued at $106,470,000. This trade represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 467,092 shares of company stock worth $220,268,340. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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