AppLovin Corporation $APP Stake Boosted by Jennison Associates LLC

Jennison Associates LLC increased its stake in AppLovin Corporation (NASDAQ:APP) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,504,180 shares of the company’s stock after purchasing an additional 117,200 shares during the quarter. Jennison Associates LLC’s holdings in AppLovin were worth $876,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of APP. Legal Advantage Investments Inc. purchased a new position in AppLovin during the 2nd quarter valued at about $1,523,000. Park Avenue Securities LLC grew its stake in AppLovin by 30.6% during the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after acquiring an additional 4,890 shares in the last quarter. IFM Investors Pty Ltd grew its stake in AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after acquiring an additional 6,104 shares in the last quarter. Aberdeen Group plc grew its stake in AppLovin by 6.5% during the 2nd quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after acquiring an additional 7,001 shares in the last quarter. Finally, Lee Johnson Capital Management LLC grew its stake in AppLovin by 13.6% during the 2nd quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock valued at $4,358,000 after acquiring an additional 1,491 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider directly owned 269,955 shares of the company’s stock, valued at $135,579,499.65. The trade was a 11.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,156,788 shares of company stock worth $514,863,333 over the last ninety days. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on APP shares. Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. BTIG Research lifted their price target on AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a report on Monday, September 15th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $605.13.

AppLovin Stock Down 2.5%

Shares of AppLovin stock opened at $626.82 on Wednesday. The stock has a market capitalization of $212.02 billion, a P/E ratio of 89.04, a PEG ratio of 3.49 and a beta of 2.53. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock has a 50 day moving average price of $577.47 and a two-hundred day moving average price of $430.32. AppLovin Corporation has a 12-month low of $158.33 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last announced 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 firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company’s revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. Equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.