AppLovin Corporation $APP Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 66.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,452 shares of the company’s stock after selling 59,030 shares during the quarter. Intech Investment Management LLC’s holdings in AppLovin were worth $21,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of APP. LFA Lugano Financial Advisors SA bought a new stake in shares of AppLovin during the 2nd quarter worth $26,000. Chilton Capital Management LLC acquired a new stake in shares of AppLovin during the third quarter worth $29,000. Activest Wealth Management lifted its holdings in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of AppLovin in the 2nd quarter valued at $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in AppLovin in the 3rd quarter worth about $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 7.2%

APP stock opened at $421.60 on Thursday. The company has a 50 day moving average of $550.18 and a two-hundred day moving average of $571.84. The company has a market cap of $142.48 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 0.81 and a beta of 2.49. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company posted $1.73 EPS. AppLovin’s revenue was up 66.0% on a year-over-year basis. On average, equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley set a $720.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Monday, February 2nd. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. increased their target price on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Citigroup decreased their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Twenty-one analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $651.77.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total value of $103,998.00. Following the transaction, the director directly owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the sale, the insider directly owned 277,110 shares of the company’s stock, valued at $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 13.66% of the company’s stock.

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.