AppLovin Corporation $APP Shares Sold by Strs Ohio

Strs Ohio reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,579 shares of the company’s stock after selling 3,148 shares during the quarter. Strs Ohio’s holdings in AppLovin were worth $98,934,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. WD Rutherford LLC lifted its holdings in AppLovin by 19.8% in the first quarter. WD Rutherford LLC now owns 7,023 shares of the company’s stock worth $2,795,000 after purchasing an additional 1,160 shares during the period. Cane Capital Partners LLC acquired a new position in AppLovin during the 1st quarter valued at about $206,000. USS Investment Management Ltd raised its position in shares of AppLovin by 269.9% during the 1st quarter. USS Investment Management Ltd now owns 155,818 shares of the company’s stock worth $62,028,000 after buying an additional 113,689 shares in the last quarter. IFM Investors Pty Ltd raised its position in shares of AppLovin by 3.5% during the 1st quarter. IFM Investors Pty Ltd now owns 46,919 shares of the company’s stock worth $18,674,000 after buying an additional 1,606 shares in the last quarter. Finally, First Pacific Financial acquired a new stake in shares of AppLovin in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent analyst reports. Oppenheimer decreased their price objective on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Argus initiated coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. JPMorgan Chase & Co. increased their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wedbush reissued an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Finally, BTIG Research restated a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $668.27.

Insider Buying and Selling at AppLovin

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the sale, the director directly owned 123,520 shares of the company’s stock, valued at $71,893,580.80. The trade was a 2.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the sale, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is owned by insiders.

AppLovin Stock Down 6.7%

APP stock opened at $527.06 on Friday. AppLovin Corporation has a 12 month low of $325.58 and a 12 month high of $745.61. The firm has a market cap of $177.06 billion, a PE ratio of 45.28, a P/E/G ratio of 0.91 and a beta of 2.49. The firm has a 50 day simple moving average of $500.97 and a 200 day simple moving average of $504.62. 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:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. Equities research analysts forecast that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

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.