Broadleaf Partners LLC Sells 4,004 Shares of AppLovin Corporation $APP

Broadleaf Partners LLC cut its position in shares of AppLovin Corporation (NASDAQ:APP) by 33.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,847 shares of the company’s stock after selling 4,004 shares during the period. Broadleaf Partners LLC’s holdings in AppLovin were worth $5,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of APP. Vanguard Group Inc. raised its position in AppLovin by 39.4% during the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares in the last quarter. State Street Corp raised its position in shares of AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares in the last quarter. Norges Bank bought a new position in shares of AppLovin in the 4th quarter worth $2,040,321,000. Capital Research Global Investors bought a new position in shares of AppLovin in the 3rd quarter worth $743,899,000. Finally, Northern Trust Corp raised its position in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after acquiring an additional 756,660 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 389,924 shares of company stock valued at $187,404,946. 13.66% of the stock is owned by insiders.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on APP shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Arete Research set a $340.00 price target on AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Wells Fargo & Company boosted their price target on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research report on Tuesday. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Stock Performance

NASDAQ APP opened at $496.77 on Friday. The stock has a market capitalization of $166.88 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average of $482.88 and a 200 day moving average of $520.84.

AppLovin (NASDAQ:APP) last released its quarterly earnings results 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 company 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%.AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. Sell-side analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

AppLovin Company 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.