AppLovin Corporation $APP Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 78.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,240 shares of the company’s stock after selling 4,646 shares during the quarter. WINTON GROUP Ltd’s holdings in AppLovin were worth $639,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of APP. Revolve Wealth Partners LLC increased its position in shares of AppLovin by 2.8% in the second quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock worth $438,000 after acquiring an additional 23 shares in the last quarter. IMA Advisory Services Inc. boosted its position in AppLovin by 40.0% during the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after purchasing an additional 24 shares during the period. CENTRAL TRUST Co boosted its position in AppLovin by 41.3% during the 1st quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock worth $35,000 after purchasing an additional 26 shares during the period. Mitchell Capital Management Co. increased its holdings in AppLovin by 0.5% in the 4th quarter. Mitchell Capital Management Co. now owns 5,956 shares of the company’s stock valued at $4,013,000 after purchasing an additional 27 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in AppLovin by 4.1% in the 1st quarter. PFG Investments LLC now owns 706 shares of the company’s stock valued at $281,000 after purchasing an additional 28 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

NASDAQ:APP opened at $334.24 on Tuesday. The firm has a 50-day moving average of $369.26 and a two-hundred day moving average of $437.27. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30. The stock has a market cap of $111.85 billion, a P/E ratio of 25.69, a PEG ratio of 0.68 and a beta of 2.49. AppLovin Corporation has a 1-year low of $297.50 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 5th. The company reported $3.76 EPS for the quarter, hitting the consensus estimate of $3.76. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The company’s revenue was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 earnings per share. On average, research analysts expect that AppLovin Corporation will post 15.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company reduced their price objective on AppLovin from $357.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Piper Sandler lowered their target price on AppLovin from $385.00 to $325.00 and set a “neutral” rating for the company in a research note on Friday, August 21st. Bank of America reiterated 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. Benchmark reduced their price target on AppLovin from $500.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Three equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $529.39.

Insider Transactions at AppLovin

In other AppLovin news, Director G Jr sold 3,076 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 120,444 shares of the company’s stock, valued at $62,786,252.76. This represents a 2.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.81% of the stock is owned by corporate insiders.

AppLovin Profile

AppLovin Corporation (NASDAQ: APP) is a technology company that provides software and services designed to help mobile application developers grow their businesses. Its platform supports user acquisition, advertising, monetization, measurement and other functions that enable developers to attract users and generate revenue from their applications.

AppLovin’s offerings include AXON, an artificial-intelligence-powered software engine used to optimize advertising and user-acquisition campaigns; MAX, a platform for managing in-app advertising and mediation; and AppDiscovery, which helps developers promote their applications.