AppLovin Corporation $APP Stock Holdings Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 29.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,692 shares of the company’s stock after purchasing an additional 52,021 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of AppLovin worth $163,132,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its holdings in shares of AppLovin by 31.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock valued at $1,627,000 after buying an additional 1,114 shares during the last quarter. Aberdeen Group plc raised its position in AppLovin by 6.5% during the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after acquiring an additional 7,001 shares in the last quarter. Legal Advantage Investments Inc. acquired a new stake in AppLovin in the second quarter valued at approximately $1,523,000. IFM Investors Pty Ltd grew its position in AppLovin by 15.6% in the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after acquiring an additional 6,104 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of AppLovin by 30.6% during the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after purchasing an additional 4,890 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APP has been the subject of a number of recent research reports. Scotiabank upped their price objective on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a research report on Monday. Oppenheimer set a $740.00 price objective on AppLovin in a report on Tuesday, October 7th. BTIG Research reissued a “buy” rating and issued a $771.00 price objective on shares of AppLovin in a research note on Wednesday, December 17th. Finally, Piper Sandler upped their target price on AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $695.90.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $693.43 on Wednesday. The firm has a market capitalization of $234.35 billion, a PE ratio of 84.15, a PEG ratio of 3.75 and a beta of 2.51. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The business’s 50 day moving average is $635.40 and its 200-day moving average is $528.84.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.34 by $0.11. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.AppLovin’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period last year, the business earned $1.29 earnings per share. Sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the sale, the director directly owned 2,829 shares in the company, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 340,336 shares of company stock valued at $200,062,623 in the last 90 days. Insiders own 13.66% 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.