AppLovin Corporation $APP Stock Holdings Trimmed by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of AppLovin Corporation (NASDAQ:APP) by 66.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,452 shares of the company’s stock after selling 59,030 shares during the quarter. Intech Investment Management LLC’s holdings in AppLovin were worth $21,881,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lazard Freres Gestion S.A.S. acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $2,514,000. Mediolanum International Funds Ltd boosted its position in AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after purchasing an additional 32,510 shares during the period. Thames Capital Management LLC boosted its position in AppLovin by 114.8% during the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock valued at $12,001,000 after purchasing an additional 8,925 shares during the period. CIBC Asset Management Inc grew its stake in AppLovin by 14.8% during the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock worth $84,160,000 after buying an additional 15,074 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in AppLovin by 118.0% in the third quarter. Rakuten Securities Inc. now owns 10,540 shares of the company’s stock worth $7,573,000 after buying an additional 5,705 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on APP. Royal Bank Of Canada reissued an “outperform” rating and set a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Citigroup decreased their target price on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. BTIG Research dropped their price target on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Twenty-one equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $651.77.

AppLovin Stock Up 7.2%

APP stock opened at $421.60 on Thursday. The firm’s 50-day moving average is $550.18 and its two-hundred day moving average is $571.84. The company has a market capitalization of $142.48 billion, a price-to-earnings ratio of 43.24, a price-to-earnings-growth ratio of 0.81 and a beta of 2.49. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $1.73 earnings per share. The business’s revenue for the quarter was up 66.0% on a year-over-year basis. On average, analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the transaction, the director owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the transaction, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.66% of the stock is currently owned by company insiders.

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.