AppLovin Corporation $APP Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 77.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,730 shares of the company’s stock after selling 847,328 shares during the period. Wellington Management Group LLP’s holdings in AppLovin were worth $126,607,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC bought a new stake in AppLovin during the first quarter worth approximately $25,000. Washington Trust Advisors Inc. increased its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter valued at $27,000. Pioneer Family Office LLC bought a new stake in shares of AppLovin in the 2nd quarter worth $31,000. Finally, First Pacific Financial bought a new position in AppLovin during the first quarter valued at about $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the sale, the director directly owned 120,444 shares of the company’s stock, valued at approximately $62,786,252.76. This represents a 2.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 294,228 shares of company stock valued at $148,403,985 over the last ninety days. Corporate insiders own 12.81% of the company’s stock.

AppLovin Stock Down 0.1%

Shares of NASDAQ:APP opened at $311.74 on Wednesday. The firm has a 50 day simple moving average of $403.28 and a 200 day simple moving average of $442.00. AppLovin Corporation has a 52 week low of $297.50 and a 52 week high of $745.61. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The company has a market cap of $104.32 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 0.66 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, hitting the consensus estimate of $3.76. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.39 EPS. As a group, research analysts expect that AppLovin Corporation will post 15.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BTIG Research dropped their price target on shares of AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. UBS Group dropped their target price on shares of AppLovin from $798.00 to $790.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Weiss Ratings raised shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Bank of America restated a “neutral” rating and set a $400.00 target price (down from $430.00) on shares of AppLovin in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $538.61.

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.