AppLovin Corporation $APP Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its holdings in AppLovin Corporation (NASDAQ:APP) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,343 shares of the company’s stock after selling 3,123 shares during the period. Illinois Municipal Retirement Fund’s holdings in AppLovin were worth $23,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APP. Redhawk Wealth Advisors Inc. lifted its stake in AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Strategic Advocates LLC grew its position in shares of AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after purchasing an additional 21 shares in the last quarter. Finivi Inc. grew its position in shares of AppLovin by 3.2% in the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after purchasing an additional 22 shares in the last quarter. Finally, Alta Wealth Advisors LLC increased its holdings in shares of AppLovin by 0.6% in the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after purchasing an additional 24 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 0.8%

APP opened at $452.73 on Thursday. The stock has a market capitalization of $152.09 billion, a PE ratio of 38.89, a P/E/G ratio of 0.73 and a beta of 2.49. AppLovin Corporation has a one year low of $343.00 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The business’s 50 day moving average price is $508.18 and its 200 day moving average price is $491.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) 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 company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin Corporation will post 15.93 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, CFO Matthew Stumpf sold 9,052 shares of the firm’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 of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the completion of the sale, the chief technology officer owned 3,189,739 shares in the company, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 393,000 shares of company stock worth $197,297,363. Insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APP shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. BTIG Research reaffirmed a “buy” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.45.

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.