Wellington Management Group LLP Has $2.14 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Wellington Management Group LLP lessened its stake in AppLovin Co. (NASDAQ:APP) by 87.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 16,352 shares of the company’s stock after selling 115,316 shares during the quarter. Wellington Management Group LLP’s holdings in AppLovin were worth $2,135,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Great Valley Advisor Group Inc. boosted its holdings in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares during the last quarter. HM Payson & Co. lifted its position in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares during the last quarter. Ashton Thomas Securities LLC grew its position in shares of AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after buying an additional 121 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after buying an additional 126 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

APP opened at $313.07 on Thursday. The company has a market capitalization of $105.06 billion, a price-to-earnings ratio of 94.87, a P/E/G ratio of 4.17 and a beta of 2.28. The business’s 50-day moving average price is $257.36 and its two-hundred day moving average price is $150.02. AppLovin Co. has a 1 year low of $37.40 and a 1 year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $0.30 EPS. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. Equities analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity

In related news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 872,896 shares of company stock worth $279,773,021 over the last ninety days. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Wedbush reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. BTIG Research raised their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark reaffirmed a “sell” rating and issued a $66.00 price target on shares of AppLovin in a research note on Thursday, November 7th. Finally, Loop Capital lifted their price objective on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.71.

AppLovin Company 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.