Advisory Services Network LLC Sells 1,455 Shares of AppLovin Corporation $APP

Advisory Services Network LLC lowered its position in shares of AppLovin Corporation (NASDAQ:APP) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,885 shares of the company’s stock after selling 1,455 shares during the period. Advisory Services Network LLC’s holdings in AppLovin were worth $17,881,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Lazard Freres Gestion S.A.S. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $2,514,000. Mediolanum International Funds Ltd lifted its position in AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock worth $54,664,000 after acquiring an additional 32,510 shares during the period. Thames Capital Management LLC boosted its position in AppLovin by 114.8% in the third quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock valued at $12,001,000 after buying an additional 8,925 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after acquiring an additional 15,074 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new stake in AppLovin during the 3rd quarter worth about $4,958,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $459.09 on Wednesday. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The company’s 50 day simple moving average is $487.56 and its 200 day simple moving average is $574.47. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The company has a market capitalization of $154.84 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 0.80 and a beta of 2.51.

AppLovin (NASDAQ:APP) last released its 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. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 earnings per share. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity

In related news, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider owned 277,110 shares of the company’s stock, 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 can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 188,033 shares of company stock valued at $90,662,374 in the last ninety days. Company insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. BTIG Research dropped their price objective on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $700.00 target price on shares of AppLovin in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of AppLovin in a report on Wednesday, March 11th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $654.50.

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.