Jacobson & Schmitt Advisors LLC Sells 2,292 Shares of AppLovin Corporation $APP

Jacobson & Schmitt Advisors LLC lessened its position in AppLovin Corporation (NASDAQ:APP) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,410 shares of the company’s stock after selling 2,292 shares during the period. AppLovin accounts for about 2.2% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 16th biggest holding. Jacobson & Schmitt Advisors LLC’s holdings in AppLovin were worth $13,607,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Portside Wealth Group LLC boosted its stake in shares of AppLovin by 45.7% during the second quarter. Portside Wealth Group LLC now owns 1,426 shares of the company’s stock valued at $735,000 after purchasing an additional 447 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of AppLovin by 5.4% in the second quarter. CWA Asset Management Group LLC now owns 12,362 shares of the company’s stock valued at $6,369,000 after buying an additional 638 shares during the period. Wall Street Financial Group Inc. increased its stake in shares of AppLovin by 8.4% in the second quarter. Wall Street Financial Group Inc. now owns 389 shares of the company’s stock valued at $200,000 after buying an additional 30 shares during the period. Clark & Stuart Inc bought a new position in AppLovin in the 2nd quarter valued at approximately $207,000. Finally, Cromwell Holdings LLC raised its holdings in AppLovin by 62.4% in the 2nd quarter. Cromwell Holdings LLC now owns 565 shares of the company’s stock valued at $291,000 after buying an additional 217 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the sale, the director directly owned 120,444 shares in the company, valued at $62,786,252.76. This trade represents a 2.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 393,000 shares of company stock valued at $197,297,363 over the last 90 days. 12.81% of the stock is owned by company insiders.

AppLovin Stock Performance

Shares of APP stock opened at $303.76 on Thursday. The stock has a market capitalization of $102.05 billion, a PE ratio of 23.35, a PEG ratio of 0.59 and a beta of 2.54. The business’s 50 day simple moving average is $457.60 and its 200 day simple moving average is $458.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30. AppLovin Corporation has a one year low of $303.17 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.76. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company’s revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.39 EPS. As a group, research analysts forecast that AppLovin Corporation will post 15.57 earnings per share for the current year.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin expects revenue growth to reaccelerate sequentially in the third quarter while maintaining an approximately 83% margin, even as it invests in additional AI computing capacity. The guidance supports the view that recent weakness may be temporary. AppLovin Q3 Guidance Signals Reacceleration After a Mixed Q2 Print
• Positive Sentiment: Phillip Securities upgraded APP from “moderate buy” to “strong buy.” BTIG also maintained a buy rating and set a $408 price target, implying substantial upside despite lowering its previous target of $574. BTIG AppLovin Price Target
• Positive Sentiment: Several investment commentaries characterize AppLovin as an attractive value opportunity after its steep decline, citing rapid revenue growth, high margins and strong earnings potential relative to valuation. AppLovin Won’t Be This Cheap for Long

Analysts Set New Price Targets

A number of research firms have weighed in on APP. Scotiabank reissued a “sector outperform” rating and set a $515.00 target price on shares of AppLovin in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Royal Bank Of Canada cut their price target on shares of AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Wells Fargo & Company reissued an “equal weight” rating and issued a $357.00 price objective (down from $575.00) on shares of AppLovin in a research note on Thursday, August 6th. Finally, Phillip Securities upgraded AppLovin from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $565.91.

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.