AppLovin Corporation $APP Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 44.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,578 shares of the company’s stock after selling 71,290 shares during the quarter. Teacher Retirement System of Texas’ holdings in AppLovin were worth $63,647,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Heartwood Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth about $33,000. Bogart Wealth LLC lifted its position in AppLovin by 100.0% in the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in AppLovin during the third quarter worth about $39,000. Proffitt & Goodson Inc. increased its position in shares of AppLovin by 65.7% during the third quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock valued at $42,000 after acquiring an additional 23 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC raised its stake in shares of AppLovin by 500.0% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 60 shares of the company’s stock valued at $43,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the completion of the transaction, the director owned 7,133,292 shares in the company, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 340,336 shares of company stock worth $200,062,623 over the last 90 days. 13.66% of the stock is owned by insiders.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. raised their price target on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Royal Bank Of Canada lifted their price objective on AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Scotiabank increased their target price on AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Benchmark lifted their target price on AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $706.76.

AppLovin Trading Down 2.0%

APP opened at $521.94 on Friday. The business has a fifty day moving average price of $635.46 and a 200 day moving average price of $558.09. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The stock has a market capitalization of $176.39 billion, a price-to-earnings ratio of 63.34, a PEG ratio of 1.76 and a beta of 2.50.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business posted $1.29 EPS. The business’s quarterly revenue was up 68.2% compared to the same quarter last year. Sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.