Schroder Investment Management Group Sells 53,164 Shares of AppLovin Corporation $APP

Schroder Investment Management Group lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 14.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,377 shares of the company’s stock after selling 53,164 shares during the quarter. Schroder Investment Management Group owned approximately 0.09% of AppLovin worth $228,767,000 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 business. PFG Advisors lifted its holdings in shares of AppLovin by 6.1% during the third quarter. PFG Advisors now owns 3,399 shares of the company’s stock worth $2,442,000 after purchasing an additional 196 shares during the period. Regal Partners Ltd lifted its holdings in AppLovin by 178.2% during the 3rd quarter. Regal Partners Ltd now owns 3,750 shares of the company’s stock worth $2,695,000 after buying an additional 2,402 shares during the period. Parallel Advisors LLC grew its position in shares of AppLovin by 11.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,098 shares of the company’s stock valued at $1,508,000 after buying an additional 209 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of AppLovin by 4.5% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 671 shares of the company’s stock valued at $482,000 after buying an additional 29 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of AppLovin by 2.6% during the third quarter. Natixis Advisors LLC now owns 141,245 shares of the company’s stock worth $101,490,000 after acquiring an additional 3,545 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on APP. Morgan Stanley set a $720.00 target price on AppLovin in a report on Thursday, February 12th. Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Evercore restated a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Scotiabank increased their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Wells Fargo & Company lowered their target price on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Twenty-one research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $654.50.

AppLovin Price Performance

Shares of APP opened at $502.14 on Monday. The firm has a market cap of $169.36 billion, a PE ratio of 51.50, a price-to-earnings-growth ratio of 1.03 and a beta of 2.51. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The business’s 50 day moving average price is $514.19 and its two-hundred day moving average price is $573.97. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company’s quarterly revenue was up 66.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. On average, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.66% of the stock is currently owned by corporate insiders.

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.