AppLovin Co. (NASDAQ:APP) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. cut its position in AppLovin Co. (NASDAQ:APP) by 85.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 842 shares of the company’s stock after selling 4,939 shares during the period. Rakuten Securities Inc.’s holdings in AppLovin were worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after buying an additional 248,022 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of AppLovin by 2,081.4% during the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after acquiring an additional 15,590 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after acquiring an additional 10,099 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE purchased a new stake in shares of AppLovin in the third quarter valued at about $7,086,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 0.9 %

NASDAQ:APP opened at $289.03 on Wednesday. The company has a market capitalization of $96.61 billion, a PE ratio of 87.59, a P/E/G ratio of 4.18 and a beta of 1.86. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $292.86. The stock’s 50 day moving average price is $143.14 and its 200 day moving average price is $103.05. The company has a quick ratio of 2.28, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, research analysts anticipate that AppLovin Co. will post 3.98 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,866 shares of company stock valued at $34,670,777 over the last quarter. 14.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on APP. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their price objective on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Citigroup upped their price target on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $194.31.

AppLovin Company Profile

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.