AppLovin Corporation $APP Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,671 shares of the company’s stock after selling 10,279 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of AppLovin worth $68,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. raised its position in shares of AppLovin by 192.2% in the third quarter. Eurizon Capital SGR S.p.A. now owns 69,706 shares of the company’s stock valued at $20,245,000 after buying an additional 45,852 shares during the last quarter. CENTRAL TRUST Co boosted its position in AppLovin by 557.8% during the third quarter. CENTRAL TRUST Co now owns 546 shares of the company’s stock worth $159,000 after acquiring an additional 463 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in AppLovin by 23.7% during the third quarter. New Mexico Educational Retirement Board now owns 16,700 shares of the company’s stock worth $4,850,000 after acquiring an additional 3,200 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in AppLovin by 44.6% during the third quarter. Maryland State Retirement & Pension System now owns 18,504 shares of the company’s stock worth $5,374,000 after acquiring an additional 5,711 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in AppLovin by 4.1% in the 3rd quarter. Ritholtz Wealth Management now owns 9,388 shares of the company’s stock worth $2,727,000 after acquiring an additional 373 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Key AppLovin News

These are some of the APP news items that stood out recently:

• Positive Sentiment: AppLovin’s latest quarterly results beat analyst estimates for earnings and revenue, with revenue up 55.5% year over year. A report also cites fresh fourth-quarter guidance and an expanded share-repurchase plan, supporting the recent rebound in the shares. Article: AppLovin Jumps on Strong Q3 Results
• Neutral Sentiment: A comparison of AppLovin with The Trade Desk highlights AppLovin’s AI-powered software, growth, and margins, but offers no new company-specific catalyst. Article: AppLovin vs. The Trade Desk
• Negative Sentiment: ETFs were net sellers of $16.7 million in AppLovin shares on Nov. 11, a modest sign of selling pressure. Article: ETFs Are Net Sellers of AppLovin

Analysts Set New Price Targets

APP has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on AppLovin from $325.00 to $347.00 and gave the company an “equal weight” rating in a report on Friday, November 6th. Raymond James Financial lowered their price objective on AppLovin from $640.00 to $590.00 in a research report on Thursday, August 6th. Scotiabank lowered their price objective on AppLovin from $515.00 to $450.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 5th. Jefferies Financial Group dropped their target price on AppLovin from $550.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Finally, The Goldman Sachs Group raised their price target on AppLovin from $400.00 to $445.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $497.93.

AppLovin Trading Up 3.9%

Shares of NASDAQ APP traded up $15.42 during trading on Friday, hitting $409.10. 3,426,478 shares of the company traded hands, compared to its average volume of 5,790,080. AppLovin Corporation has a 1 year low of $225.19 and a 1 year high of $738.01. The company has a 50-day moving average price of $302.13 and a 200-day moving average price of $406.68. The firm has a market capitalization of $135.54 billion, a P/E ratio of 27.53, a P/E/G ratio of 0.80 and a beta of 2.51. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 1.07.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.27. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.07 billion. AppLovin had a return on equity of 182.97% and a net margin of 65.89%. The business’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 EPS. On average, equities analysts predict that AppLovin Corporation will post 16.25 EPS for the current year.

AppLovin Profile

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.