AppLovin Co. (NASDAQ:APP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 87.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,352 shares of the company's stock after selling 115,316 shares during the quarter. Wellington Management Group LLP's holdings in AppLovin were worth $2,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. raised its holdings in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company's stock worth $370,000 after buying an additional 60 shares in the last quarter. HM Payson & Co. raised its stake in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock worth $4,371,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company's stock valued at $626,000 after purchasing an additional 121 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of AppLovin by 8.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company's stock valued at $217,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

Shares of APP stock traded up $5.67 on Thursday, reaching $318.74. The company's stock had a trading volume of 5,506,835 shares, compared to its average volume of 4,621,997. The company has a market capitalization of $106.97 billion, a price-to-earnings ratio of 96.59, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. The stock's fifty day simple moving average is $257.36 and its 200-day simple moving average is $150.02. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1 year low of $37.40 and a 1 year high of $417.64.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm's quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. Analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares of the company's stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 872,896 shares of company stock worth $279,773,021. Company insiders own 14.69% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on APP. JPMorgan Chase & Co. raised their target price 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. The Goldman Sachs Group downgraded AppLovin from a "buy" rating to a "neutral" rating and raised their price objective for the company from $103.00 to $150.00 in a report on Monday, October 14th. Stifel Nicolaus upped their target price on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Macquarie lifted their price target on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Finally, UBS Group raised shares of AppLovin from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $310.71.

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.