WINTON GROUP Ltd Trims Stock Holdings in AppLovin Corporation $APP

WINTON GROUP Ltd decreased its position in AppLovin Corporation (NASDAQ:APP) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,320 shares of the company’s stock after selling 2,980 shares during the period. WINTON GROUP Ltd’s holdings in AppLovin were worth $11,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after acquiring an additional 3,438 shares in the last quarter. APG Asset Management N.V. purchased a new stake in shares of AppLovin in the third quarter valued at $4,958,000. Metis Global Partners LLC lifted its position in shares of AppLovin by 138.3% in the third quarter. Metis Global Partners LLC now owns 10,094 shares of the company’s stock valued at $7,253,000 after acquiring an additional 5,859 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in AppLovin by 35.4% in the third quarter. Stratos Wealth Partners LTD. now owns 27,831 shares of the company’s stock valued at $19,998,000 after purchasing an additional 7,271 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in AppLovin by 24.9% during the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after buying an additional 487,492 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Wedbush reiterated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Oppenheimer reduced their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $557.20 on Friday. The firm has a market capitalization of $187.19 billion, a PE ratio of 47.87, a P/E/G ratio of 0.91 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The business has a 50-day moving average of $470.43 and a two-hundred day moving average of $521.43. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 earnings per share. As a group, research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 2,889 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $488.90, for a total value of $1,412,432.10. Following the sale, the chief technology officer owned 17,945 shares of the company’s stock, valued at $8,773,310.50. This represents a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 467,092 shares of company stock valued at $220,268,340 over the last three months. Insiders own 13.66% of the company’s stock.

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.