AppLovin Corporation $APP Stock Holdings Decreased by Jennison Associates LLC

Jennison Associates LLC lessened its stake in AppLovin Corporation (NASDAQ:APP) by 15.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,300,905 shares of the company’s stock after selling 436,119 shares during the quarter. Jennison Associates LLC’s holdings in AppLovin were worth $915,760,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after buying an additional 166,117 shares during the last quarter. State Street Corp raised its stake in AppLovin by 0.4% during the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after buying an additional 52,377 shares in the last quarter. Geode Capital Management LLC raised its stake in AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after buying an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after buying an additional 212,349 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after buying an additional 538,806 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 2.3%

NASDAQ:APP opened at $424.54 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average of $506.01 and a 200-day moving average of $489.19. The firm has a market capitalization of $142.62 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49. AppLovin Corporation has a 52 week low of $343.00 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $1.67 EPS. The business’s revenue was up 58.9% on a year-over-year basis. Analysts predict that AppLovin Corporation will post 15.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APP. Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. KeyCorp set a $775.00 price objective on AppLovin in a research note on Wednesday, June 10th. Raymond James Financial began coverage on shares of AppLovin in a report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Finally, Citigroup reissued a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $668.45.

Insider Transactions at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction 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 sale, the director directly owned 120,444 shares of the company’s stock, valued at $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 393,000 shares of company stock valued at $197,297,363 over the last three months. 13.66% of the stock is currently owned by company insiders.

AppLovin 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.