AppLovin Corporation $APP Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its holdings in AppLovin Corporation (NASDAQ:APP) by 23.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,444 shares of the company’s stock after selling 3,757 shares during the quarter. Jefferies Financial Group Inc.’s holdings in AppLovin were worth $3,614,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC grew its holdings in AppLovin by 3,695.3% in the second quarter. Signature Estate & Investment Advisors LLC now owns 76,361 shares of the company’s stock worth $39,345,000 after purchasing an additional 74,349 shares during the last quarter. Insight Wealth Strategies LLC purchased a new position in AppLovin in the 2nd quarter worth $6,939,000. Generate Investment Management Ltd purchased a new position in AppLovin in the 2nd quarter worth $7,226,000. Saudi Central Bank lifted its holdings in shares of AppLovin by 88.7% during the second quarter. Saudi Central Bank now owns 16,070 shares of the company’s stock worth $8,280,000 after purchasing an additional 7,555 shares during the period. Finally, Nykredit A S purchased a new stake in shares of AppLovin in the 2nd quarter valued at $41,902,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 2.7%

APP stock opened at $393.68 on Friday. AppLovin Corporation has a twelve month low of $225.19 and a twelve month high of $738.01. The stock has a market cap of $131.75 billion, a P/E ratio of 26.49, a PEG ratio of 0.82 and a beta of 2.51. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $300.22 and its two-hundred day moving average is $407.35.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 4th. The company reported $4.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.27. AppLovin had a net margin of 65.89% and a return on equity of 182.97%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm posted $2.45 earnings per share. AppLovin’s revenue for the quarter was up 55.5% on a year-over-year basis. Research analysts expect that AppLovin Corporation will post 16.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APP. Wells Fargo & Company raised their target price on AppLovin from $325.00 to $347.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $520.00 price target (up from $490.00) on shares of AppLovin in a research note on Thursday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $475.00 target price on shares of AppLovin in a research note on Thursday, November 5th. Weiss Ratings upgraded shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Finally, Royal Bank Of Canada increased their price target on shares of AppLovin from $500.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $497.93.

Key Stories Impacting AppLovin

Investors following APP have been watching these stories:

• Positive Sentiment: Recent coverage highlighted strong third-quarter results, including revenue growth of about 55%, and fourth-quarter guidance above expectations. The company also announced a larger share-repurchase plan, providing support for the bullish case. AppLovin (APP) Jumps On Strong Q3 Results, Is The Stock Still Cheap?
• Neutral Sentiment: AppLovin had risen sharply over the prior month, leaving investors weighing its growth prospects against whether the rally had run too far. AppLovin Just Ripped 47% in a Month: Is It Too Late to Buy APP Stock Now?
• Negative Sentiment: Several law firms publicized a pending securities class action and the November 16 lead-plaintiff deadline. The lawsuit alleges that AppLovin’s statements about the progress and adoption of its AI models and self-service advertising tools were misleading; these are allegations, not findings. The legal overhang may weigh on sentiment. AppLovin Investors Alert

About AppLovin

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition. The company’s products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.