AppLovin Corporation $APP Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its position in AppLovin Corporation (NASDAQ:APP) by 14.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 39,240 shares of the company’s stock after buying an additional 4,919 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in AppLovin were worth $26,441,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Board of the Pension Protection Fund acquired a new position in AppLovin in the 4th quarter valued at $27,000. Washington Trust Advisors Inc. grew its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin during the 4th quarter worth $32,000. Graney & King LLC acquired a new position in shares of AppLovin during the 3rd quarter worth $36,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of AppLovin during the 4th quarter worth $38,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 22,544 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 123,520 shares in the company, valued at $71,893,580.80. This represents a 2.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 226,014 shares of company stock worth $113,073,400. 13.66% of the stock is owned by company insiders.

AppLovin Price Performance

AppLovin stock opened at $496.77 on Monday. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm’s 50-day simple moving average is $482.88 and its 200 day simple moving average is $520.57. The firm has a market capitalization of $166.88 billion, a PE ratio of 42.68, a P/E/G ratio of 0.81 and a beta of 2.45.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $1.67 EPS. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. On average, equities research analysts predict that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APP. Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Wednesday. Citigroup reaffirmed a “buy” rating and set a $710.00 price target on shares of AppLovin in a research note on Monday, June 1st. BTIG Research reaffirmed a “buy” rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note 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 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.