AppLovin Corporation $APP Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 73.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 63,351 shares of the company’s stock after selling 172,905 shares during the period. Pacer Advisors Inc.’s holdings in AppLovin were worth $25,214,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Calamos Advisors LLC boosted its position in AppLovin by 73.3% during the 4th quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after purchasing an additional 20,609 shares during the period. Capricorn Fund Managers Ltd bought a new stake in AppLovin in the fourth quarter valued at $4,043,000. Dara Capital US Inc. bought a new stake in AppLovin in the fourth quarter valued at $1,747,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AppLovin by 12.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,265 shares of the company’s stock valued at $131,573,000 after acquiring an additional 21,427 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of AppLovin by 312.0% during the fourth quarter. Fifth Third Bancorp now owns 6,123 shares of the company’s stock valued at $4,126,000 after acquiring an additional 4,637 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on APP shares. KeyCorp set a $775.00 target price on AppLovin in a research note on Wednesday, June 10th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Argus started coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Finally, Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $672.18.

AppLovin Trading Up 2.6%

AppLovin stock opened at $406.16 on Tuesday. The firm has a market cap of $136.45 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 0.65 and a beta of 2.54. AppLovin Corporation has a 1 year low of $359.00 and a 1 year high of $745.61. The firm’s 50 day moving average price is $489.68 and its two-hundred day moving average price is $469.11. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $1.67 EPS. The company’s quarterly revenue was up 58.9% on a year-over-year basis. On average, research analysts predict that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 393,000 shares of company stock valued at $197,297,363. Company insiders own 12.81% of the company’s stock.

AppLovin Company 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.