AppLovin Corporation $APP Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its stake in AppLovin Corporation (NASDAQ:APP) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,391 shares of the company’s stock after selling 2,086 shares during the quarter. Royal London Asset Management Ltd.’s holdings in AppLovin were worth $81,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Redhawk Wealth Advisors Inc. lifted its stake in shares of AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after buying an additional 18 shares in the last quarter. Claro Advisors LLC lifted its stake in shares of AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after buying an additional 20 shares in the last quarter. Strategic Advocates LLC raised its stake in AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after purchasing an additional 21 shares during the period. Finally, Finivi Inc. raised its stake in AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after purchasing an additional 22 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Oppenheimer reduced their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. BTIG Research reaffirmed a “buy” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Wedbush reaffirmed an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $669.62.

More AppLovin News

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

AppLovin Trading Up 3.8%

NASDAQ APP opened at $496.77 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The stock has a market capitalization of $166.88 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 0.78 and a beta of 2.45. The firm has a 50 day moving average of $482.88 and a two-hundred day moving average of $520.84.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $1.67 EPS. The company’s revenue for the quarter was up 58.9% on a year-over-year basis. As a group, research analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 33,042 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. This represents a 1.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 389,924 shares of company stock worth $187,404,946. 13.66% of the stock is currently owned by company insiders.

About AppLovin

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.