Charles Schwab Investment Management Inc. Has $124.15 Million Stake in AppLovin Co. (NASDAQ:APP)

Charles Schwab Investment Management Inc. lessened its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 28.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 950,940 shares of the company's stock after selling 374,972 shares during the period. Charles Schwab Investment Management Inc. owned about 0.28% of AppLovin worth $124,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Second Half Financial Partners LLC acquired a new position in shares of AppLovin during the 3rd quarter worth about $224,000. WCM Investment Management LLC boosted its position in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in AppLovin by 10.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company's stock valued at $3,440,000 after purchasing an additional 2,385 shares in the last quarter. Smithbridge Asset Management Inc. DE acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $7,086,000. Finally, Swiss National Bank raised its stake in shares of AppLovin by 13.9% during the 3rd quarter. Swiss National Bank now owns 606,290 shares of the company's stock worth $79,151,000 after purchasing an additional 74,200 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on APP. Loop Capital raised their target price on shares of AppLovin from $181.00 to $385.00 and gave the company a "buy" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Oppenheimer boosted their price objective on shares of AppLovin from $260.00 to $480.00 and gave the stock an "outperform" rating in a research note on Monday. Macquarie raised their target price on shares of AppLovin from $150.00 to $270.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Bank of America boosted their price target on AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $265.57.

AppLovin Price Performance

Shares of APP traded up $10.18 during mid-day trading on Tuesday, reaching $329.77. The company had a trading volume of 4,440,288 shares, compared to its average volume of 4,468,423. The company has a market capitalization of $110.67 billion, a price-to-earnings ratio of 99.93, a P/E/G ratio of 4.11 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company's 50 day simple moving average is $185.37 and its 200 day simple moving average is $119.37. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $344.77.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $0.30 earnings per share. The company's quarterly revenue was up 38.6% on a year-over-year basis. Analysts expect that AppLovin Co. will post 4.05 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, Director Craig Scott Billings sold 18,000 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now owns 2,987 shares in the company, valued at approximately $952,673.78. The trade was a 85.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company's stock, valued at $900,711.30. This trade represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 854,065 shares of company stock worth $233,072,408 in the last 90 days. Insiders own 14.69% of the company's stock.

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.