AppLovin Corporation $APP Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,024 shares of the company’s stock after selling 2,679 shares during the period. Gotham Asset Management LLC’s holdings in AppLovin were worth $53,248,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 166,117 shares in the last quarter. State Street Corp increased its holdings in shares of AppLovin by 0.4% in the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after purchasing an additional 52,377 shares during the last quarter. Geode Capital Management LLC lifted its position in AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after buying an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in AppLovin by 3.6% during the fourth 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 in the last quarter. Finally, Morgan Stanley boosted its stake in AppLovin by 10.7% during the fourth 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 and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 226,014 shares of company stock worth $113,073,400. 13.66% of the stock is owned by company insiders.

AppLovin Price Performance

APP stock opened at $479.49 on Thursday. The business’s fifty day moving average price is $489.48 and its 200 day moving average price is $519.07. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. 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 company has a market capitalization of $161.08 billion, a PE ratio of 41.19, a P/E/G ratio of 0.84 and a beta of 2.45.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS. On average, sell-side analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of AppLovin in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

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.