Dimensional Fund Advisors LP Lowers Position in AppLovin Corporation $APP

Dimensional Fund Advisors LP trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324,244 shares of the company’s stock after selling 161,768 shares during the period. Dimensional Fund Advisors LP’s holdings in AppLovin were worth $526,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in APP. Washington Trust Advisors Inc. raised its holdings in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in AppLovin during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new position in AppLovin during the fourth quarter valued at approximately $32,000. First Pacific Financial bought a new position in AppLovin in the first quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. lifted its holdings in AppLovin by 40.0% during the first quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 120,444 shares in the company, valued at $62,786,252.76. The trade was a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 393,000 shares of company stock worth $197,297,363 in the last 90 days. 12.81% of the stock is owned by insiders.

AppLovin Stock Up 0.0%

Shares of APP stock opened at $424.60 on Tuesday. The stock’s fifty day moving average price is $504.94 and its 200 day moving average price is $485.82. AppLovin Corporation has a 1-year low of $343.00 and a 1-year high of $745.61. The company has a market cap of $142.64 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 58.9% on a year-over-year basis. On average, research analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on APP shares. Wedbush reiterated an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Raymond James Financial started coverage on AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price objective on the stock. BTIG Research reiterated a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Citigroup reissued a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

About AppLovin

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.