AppLovin Corporation $APP Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lowered its position in AppLovin Corporation (NASDAQ:APP) by 23.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,444 shares of the company’s stock after selling 3,757 shares during the quarter. Jefferies Financial Group Inc.’s holdings in AppLovin were worth $3,614,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Illinois Municipal Retirement Fund raised its holdings in shares of AppLovin by 13.0% in the third quarter. Illinois Municipal Retirement Fund now owns 42,111 shares of the company’s stock worth $12,230,000 after acquiring an additional 4,849 shares during the last quarter. Moneco Advisors LLC grew its holdings in AppLovin by 11.2% in the third quarter. Moneco Advisors LLC now owns 1,638 shares of the company’s stock valued at $476,000 after purchasing an additional 165 shares during the period. Lido Advisors LLC grew its stake in shares of AppLovin by 157.8% during the 3rd quarter. Lido Advisors LLC now owns 19,666 shares of the company’s stock valued at $5,712,000 after buying an additional 12,038 shares during the period. Keybank National Association OH raised its position in shares of AppLovin by 51.3% in the 3rd quarter. Keybank National Association OH now owns 3,245 shares of the company’s stock worth $942,000 after buying an additional 1,100 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in AppLovin by 25.4% in the third quarter. New York Life Investment Management LLC now owns 46,880 shares of the company’s stock valued at $13,615,000 after acquiring an additional 9,482 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on AppLovin from $325.00 to $347.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Evercore reiterated an “outperform” rating and issued a $510.00 price target (down from $630.00) on shares of AppLovin in a research note on Tuesday, September 1st. Morgan Stanley reduced their price objective on shares of AppLovin from $450.00 to $400.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Phillip Securities upgraded AppLovin from a “moderate buy” rating to a “strong-buy” rating and decreased their target price for the stock from $635.00 to $610.00 in a research report on Tuesday, August 11th. Finally, Raymond James Financial dropped their price target on AppLovin from $640.00 to $590.00 in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $497.93.

Trending Headlines about AppLovin

Here are a few of the latest headlines about APP:

• Positive Sentiment: Recent coverage highlighted strong third-quarter results, including revenue growth of about 55%, and fourth-quarter guidance above expectations. The company also announced a larger share-repurchase plan, providing support for the bullish case. AppLovin (APP) Jumps On Strong Q3 Results, Is The Stock Still Cheap?
• Negative Sentiment: Several law firms publicized a pending securities class action and the November 16 lead-plaintiff deadline. The lawsuit alleges that AppLovin’s statements about the progress and adoption of its AI models and self-service advertising tools were misleading; these are allegations, not findings. The legal overhang may weigh on sentiment. AppLovin Investors Alert
• Negative Sentiment: A Seeking Alpha article downgraded the stock, arguing that valuation concerns outweigh the company’s execution—another potential headwind after the recent rally. AppLovin: Valuation Trumps Execution (Rating Downgrade)

AppLovin Stock Performance

Shares of APP opened at $393.68 on Friday. AppLovin Corporation has a 1 year low of $225.19 and a 1 year high of $738.01. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.80 and a current ratio of 3.80. The company has a market cap of $131.75 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 0.82 and a beta of 2.51. The firm has a fifty day moving average of $300.22 and a 200-day moving average of $407.35.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, beating the consensus estimate of $4.03 by $0.27. AppLovin had a net margin of 65.89% and a return on equity of 182.97%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the business earned $2.45 earnings per share. AppLovin’s revenue was up 55.5% compared to the same quarter last year. As a group, equities analysts anticipate that AppLovin Corporation will post 16.25 earnings per share for the current year.

About AppLovin

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition. The company’s products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.