Charles Schwab Investment Management Inc. Sells 374,972 Shares of AppLovin Co. (NASDAQ:APP)

Charles Schwab Investment Management Inc. trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 950,940 shares of the company’s stock after selling 374,972 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in AppLovin were worth $124,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of APP. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter valued at $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC bought a new stake in AppLovin during the second quarter valued at approximately $33,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Craig Scott Billings sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now directly owns 2,987 shares of the company’s stock, valued at $952,673.78. This trade represents a 85.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the transaction, the chief financial officer now directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 854,065 shares of company stock worth $233,072,408. Insiders own 14.69% of the company’s stock.

AppLovin Trading Down 4.1 %

Shares of APP stock opened at $319.59 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $107.25 billion, a price-to-earnings ratio of 96.85, a price-to-earnings-growth ratio of 4.11 and a beta of 1.86. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $344.77. The stock’s 50-day moving average price is $185.37 and its 200-day moving average price is $119.37.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. Equities research analysts predict that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on APP shares. Macquarie increased their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. Stifel Nicolaus upped their price target on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Finally, BTIG Research increased their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $249.34.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.