Janus Henderson Group PLC Has $2.18 Billion Stock Holdings in AppLovin Corporation $APP

Janus Henderson Group PLC reduced its position in AppLovin Corporation (NASDAQ:APP) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,242,235 shares of the company’s stock after selling 304,341 shares during the period. AppLovin accounts for approximately 1.0% of Janus Henderson Group PLC’s investment portfolio, making the stock its 12th largest holding. Janus Henderson Group PLC owned approximately 0.96% of AppLovin worth $2,178,065,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of AppLovin by 131.7% in the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the period. APG Asset Management N.V. acquired a new stake in shares of AppLovin during the third quarter worth $4,958,000. Franklin Resources Inc. increased its holdings in AppLovin by 24.9% in the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock valued at $1,754,996,000 after purchasing an additional 487,492 shares during the last quarter. TIAA Trust National Association increased its holdings in AppLovin by 431.7% in the third quarter. TIAA Trust National Association now owns 52,749 shares of the company’s stock valued at $37,902,000 after purchasing an additional 42,829 shares during the last quarter. Finally, Generate Investment Management Ltd bought a new position in AppLovin during the fourth quarter worth about $2,347,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Wedbush reiterated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Trading Down 6.9%

NASDAQ:APP opened at $479.49 on Thursday. The company has a market cap of $161.08 billion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 0.84 and a beta of 2.45. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The business has a 50 day moving average price of $489.48 and a two-hundred day moving average price of $519.07. 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 (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The firm’s revenue was up 58.9% compared to the same quarter last year. As a group, analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insider Activity

In other news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the sale, the director directly owned 123,520 shares in the company, valued at approximately $71,893,580.80. This represents a 2.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 226,014 shares of company stock worth $113,073,400. 13.66% of the stock is currently 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.