AppLovin Corporation $APP Holdings Trimmed by Annex Advisory Services LLC

Annex Advisory Services LLC trimmed its position in shares of AppLovin Corporation (NASDAQ:APP) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 732 shares of the company’s stock after selling 54 shares during the period. Annex Advisory Services LLC’s holdings in AppLovin were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after buying an additional 1,769,400 shares during the period. Baillie Gifford & Co. boosted its stake in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the period. Invesco Ltd. boosted its stake in shares of AppLovin by 32.9% during the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock valued at $1,062,876,000 after buying an additional 992,316 shares during the period. Finally, Kensico Capital Management Corp boosted its stake in shares of AppLovin by 12.9% during the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after buying an additional 328,000 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Down 0.9%

Shares of APP opened at $643.50 on Tuesday. The firm has a market capitalization of $217.66 billion, a price-to-earnings ratio of 91.41, a P/E/G ratio of 3.60 and a beta of 2.44. The stock’s 50-day moving average price is $457.27 and its 200 day moving average price is $367.01. AppLovin Corporation has a 12-month low of $124.59 and a 12-month high of $657.00. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. As a group, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APP. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Wells Fargo & Company lifted their target price on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Wedbush lifted their target price on shares of AppLovin from $620.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Zacks Research raised shares of AppLovin to a “strong-buy” rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $501.95.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider owned 269,955 shares in the company, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company’s stock, valued at $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 over the last three months. 13.66% of the stock is currently owned by insiders.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.