PDS Planning Inc Has $298,000 Holdings in AppLovin Corporation $APP

PDS Planning Inc decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 18.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 852 shares of the company’s stock after selling 198 shares during the quarter. PDS Planning Inc’s holdings in AppLovin were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Dynasty Wealth Management LLC boosted its stake in AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after acquiring an additional 2,700,399 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after purchasing an additional 1,769,400 shares during the period. Vanguard Group Inc. boosted its position in shares of AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of AppLovin by 86.5% in the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock valued at $632,478,000 after buying an additional 1,107,104 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 90,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the transaction, the chief executive officer directly owned 2,620,054 shares in the company, valued at $1,103,147,536.16. The trade was a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock worth $514,863,333 in the last ninety days. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

APP stock opened at $569.89 on Monday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market cap of $192.77 billion, a PE ratio of 80.95, a P/E/G ratio of 3.09 and a beta of 2.53. The business has a 50 day moving average of $537.64 and a 200-day moving average of $402.05. AppLovin Corporation has a 12-month low of $139.40 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business’s revenue was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. As a group, sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wedbush upped their price target on AppLovin from $725.00 to $745.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Phillip Securities raised shares of AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Wells Fargo & Company set a $860.00 price objective on AppLovin in a report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of AppLovin in a report on Wednesday, October 8th. Finally, BTIG Research lifted their target price on AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $597.38.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.