Vanguard Personalized Indexing Management LLC Raises Stock Holdings in AppLovin Corporation $APP

Vanguard Personalized Indexing Management LLC lifted its holdings in AppLovin Corporation (NASDAQ:APP) by 3.4% in the third quarter, HoldingsChannel reports. The firm owned 34,321 shares of the company’s stock after purchasing an additional 1,138 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in AppLovin were worth $24,668,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of APP. Heartwood Wealth Advisors LLC purchased a new position in shares of AppLovin in the 3rd quarter worth $33,000. Bogart Wealth LLC raised its position in shares of AppLovin by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after buying an additional 24 shares in the last quarter. Wolff Wiese Magana LLC bought a new position in shares of AppLovin in the 3rd quarter valued at about $39,000. Proffitt & Goodson Inc. lifted its holdings in shares of AppLovin by 65.7% in the 3rd 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 grew its position in AppLovin by 500.0% in the third quarter. Financial Network Wealth Advisors LLC now owns 60 shares of the company’s stock worth $43,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $524.41 on Monday. The firm’s 50 day simple moving average is $634.79 and its 200-day simple moving average is $562.31. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The firm has a market cap of $177.22 billion, a PE ratio of 63.64, a price-to-earnings-growth ratio of 1.73 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, topping the consensus estimate of $2.34 by $0.11. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.AppLovin’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. As a group, equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Analysts Set New Price Targets

APP has been the subject of several analyst reports. Oppenheimer set a $740.00 price objective on AppLovin in a research note on Tuesday, October 7th. Benchmark increased their price target on AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Morgan Stanley lifted their price objective on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group increased their target price on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, Phillip Securities raised shares of AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $706.45.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the sale, the director directly owned 2,829 shares in the company, valued at $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the transaction, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 340,336 shares of company stock valued at $200,062,623. Insiders own 13.66% of the company’s stock.

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.