Aberdeen Group plc Trims Holdings in AppLovin Corporation $APP

Aberdeen Group plc reduced its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 45.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 62,129 shares of the company’s stock after selling 52,051 shares during the period. Aberdeen Group plc’s holdings in AppLovin were worth $44,642,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA purchased a new position in shares of AppLovin during the second quarter worth about $26,000. Chilton Capital Management LLC purchased a new stake in AppLovin during the 3rd quarter valued at approximately $29,000. Activest Wealth Management lifted its position in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after acquiring an additional 38 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of AppLovin in the 2nd quarter valued at approximately $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of AppLovin in the third quarter valued at approximately $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BTIG Research decreased their price target on AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Piper Sandler restated an “overweight” rating and issued a $650.00 target price (down previously from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of AppLovin in a report on Thursday, February 12th. Wedbush boosted their price target on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group reduced their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research report on Thursday. Twenty analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $651.77.

AppLovin Trading Up 6.7%

Shares of AppLovin stock opened at $391.55 on Tuesday. The business has a 50 day moving average price of $590.55 and a 200 day moving average price of $573.26. The company has a market capitalization of $132.32 billion, a P/E ratio of 40.16, a P/E/G ratio of 1.25 and a beta of 2.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.25. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61.

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

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the transaction, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. This represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 30,888 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the sale, the chief executive officer directly owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 187,786 shares of company stock valued at $100,914,925. 13.66% of the stock is owned by insiders.

About AppLovin

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.