Blair William & Co. IL Sells 21,949 Shares of AppLovin Corporation $APP

Blair William & Co. IL reduced its position in shares of AppLovin Corporation (NASDAQ:APPFree Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 294,439 shares of the company’s stock after selling 21,949 shares during the quarter. Blair William & Co. IL’s holdings in AppLovin were worth $198,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APP. Board of the Pension Protection Fund bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $27,000. Washington Trust Advisors Inc. lifted 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 worth $27,000 after purchasing an additional 24 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in AppLovin in the 4th quarter valued at $32,000. Graney & King LLC acquired a new stake in AppLovin in the 3rd quarter valued at $36,000. Finally, Aventura Private Wealth LLC bought a new stake in AppLovin during the 4th quarter valued at $38,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on APP shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Oppenheimer dropped their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. KeyCorp set a $775.00 target price on AppLovin in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. increased their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One investment 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $669.62.

View Our Latest Report on AppLovin

AppLovin Trading Down 1.1%

NASDAQ:APP opened at $515.20 on Wednesday. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The firm has a 50-day moving average price of $488.14 and a two-hundred day moving average price of $519.82. 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 firm has a market cap of $173.08 billion, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 0.85 and a beta of 2.45.

AppLovin (NASDAQ:APPGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for 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%.The company’s revenue was up 58.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.67 EPS. On average, equities analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the sale, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,014 shares of company stock valued at $113,073,400 in the last ninety days. 13.66% of the stock is owned by corporate insiders.

AppLovin News Roundup

Here are the key news stories impacting AppLovin this week:

AppLovin Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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