AppLovin Corporation $APP Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in AppLovin Corporation (NASDAQ:APPFree Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,600 shares of the company’s stock after selling 27,056 shares during the period. Russell Investments Group Ltd. owned about 0.07% of AppLovin worth $162,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lombard Odier Asset Management Switzerland SA boosted its holdings in AppLovin by 12.8% in the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 11,570 shares of the company’s stock valued at $7,796,000 after purchasing an additional 1,312 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in shares of AppLovin by 12.7% during the 4th quarter. Clark Capital Management Group Inc. now owns 595 shares of the company’s stock worth $401,000 after buying an additional 67 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of AppLovin during the 4th quarter worth approximately $67,000. &PARTNERS lifted its holdings in shares of AppLovin by 111.2% in the 4th quarter. &PARTNERS now owns 15,581 shares of the company’s stock valued at $10,523,000 after buying an additional 8,204 shares during the period. Finally, Siemens Fonds Invest GmbH lifted its holdings in shares of AppLovin by 27.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 7,052 shares of the company’s stock valued at $4,892,000 after buying an additional 1,519 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

NASDAQ APP opened at $515.20 on Wednesday. The business has a 50 day moving average price of $488.14 and a 200 day moving average price of $519.82. The company has a market capitalization of $173.08 billion, a P/E ratio of 44.26, a PEG ratio of 0.85 and a beta of 2.45. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APPGet Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.67 earnings per share. Sell-side analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 33,042 shares of AppLovin stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 226,014 shares of company stock worth $113,073,400. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Wedbush restated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. BTIG Research reaffirmed a “buy” rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Finally, Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $669.62.

Check Out Our Latest Stock Analysis on AppLovin

AppLovin Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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