AppLovin Co. (NASDAQ:APP) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its stake in shares of AppLovin Co. (NASDAQ:APP) by 8.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 817 shares of the company’s stock after selling 80 shares during the period. Allworth Financial LP’s holdings in AppLovin were worth $107,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in APP. Mitsubishi UFJ Trust & Banking Corp lifted its stake in AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after acquiring an additional 248,022 shares during the last quarter. Acadian Asset Management LLC lifted its stake in AppLovin by 2,081.4% in the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after acquiring an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after acquiring an additional 10,099 shares during the last quarter. Clearbridge Investments LLC lifted its stake in AppLovin by 73.0% in the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after acquiring an additional 376,835 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in AppLovin by 77.0% in the second quarter. Sei Investments Co. now owns 515,665 shares of the company’s stock worth $42,914,000 after acquiring an additional 224,306 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APP shares. Citigroup lifted their price target on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital initiated coverage on shares of AppLovin in a research report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.78.

AppLovin Stock Performance

Shares of APP opened at $169.39 on Friday. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $56.62 billion, a P/E ratio of 72.08, a P/E/G ratio of 2.07 and a beta of 1.92. The company’s fifty day moving average is $126.27 and its two-hundred day moving average is $95.70. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $174.46.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, sell-side analysts predict that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock valued at $51,022,478 in the last ninety days. 14.69% of the stock is currently owned by company insiders.

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.