Jacobson & Schmitt Advisors LLC Sells 2,292 Shares of AppLovin Corporation $APP

Jacobson & Schmitt Advisors LLC trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,410 shares of the company’s stock after selling 2,292 shares during the period. AppLovin accounts for 2.2% of Jacobson & Schmitt Advisors LLC’s holdings, making the stock its 16th largest position. Jacobson & Schmitt Advisors LLC’s holdings in AppLovin were worth $13,607,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cassaday & Co Wealth Management LLC bought a new position in AppLovin during the 1st quarter worth $25,000. Washington Trust Advisors Inc. raised its holdings in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $32,000. Finally, First Pacific Financial acquired a new stake in shares of AppLovin during the 1st quarter worth $33,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin expects revenue growth to reaccelerate sequentially in the third quarter while maintaining an approximately 83% margin, even as it invests in additional AI computing capacity. The guidance supports the view that recent weakness may be temporary. AppLovin Q3 Guidance Signals Reacceleration After a Mixed Q2 Print
• Positive Sentiment: Phillip Securities upgraded APP from “moderate buy” to “strong buy.” BTIG also maintained a buy rating and set a $408 price target, implying substantial upside despite lowering its previous target of $574. BTIG AppLovin Price Target
• Positive Sentiment: Several investment commentaries characterize AppLovin as an attractive value opportunity after its steep decline, citing rapid revenue growth, high margins and strong earnings potential relative to valuation. AppLovin Won’t Be This Cheap for Long

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APP. Citigroup decreased their price target on AppLovin from $710.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Benchmark reduced their price objective on shares of AppLovin from $775.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Morgan Stanley reduced their price objective on shares of AppLovin from $720.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC dropped their target price on shares of AppLovin from $700.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $565.91.

AppLovin Price Performance

AppLovin stock opened at $303.76 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. AppLovin Corporation has a 52 week low of $303.17 and a 52 week high of $745.61. The stock has a market capitalization of $102.05 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The stock has a fifty day moving average of $457.60 and a 200-day moving average of $458.54.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting the consensus estimate of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm posted $2.39 earnings per share. AppLovin’s revenue was up 52.8% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Corporation will post 15.57 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the sale, the chief technology officer directly owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is owned by company insiders.

AppLovin 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.