AppLovin Corporation (NASDAQ:APP) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its position in shares of AppLovin Corporation (NASDAQ:APP) by 14.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 353,158 shares of the company’s stock after selling 57,387 shares during the quarter. Neuberger Berman Group LLC’s holdings in AppLovin were worth $93,576,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin in the fourth quarter worth about $25,000. Atala Financial Inc acquired a new stake in AppLovin in the first quarter worth about $26,000. ORG Wealth Partners LLC acquired a new stake in AppLovin in the first quarter worth about $29,000. Alpine Bank Wealth Management acquired a new stake in AppLovin in the first quarter worth about $27,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in AppLovin in the first quarter worth about $29,000. 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. BTIG Research upped their price objective on shares of AppLovin from $480.00 to $483.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. HSBC set a $436.00 price target on shares of AppLovin and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley boosted their price target on shares of AppLovin from $460.00 to $480.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $472.33.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 6,599 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $369.35, for a total value of $2,437,340.65. Following the transaction, the insider owned 344,256 shares in the company, valued at $127,150,953.60. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Stumpf sold 9,714 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $423.00, for a total value of $4,109,022.00. Following the completion of the transaction, the chief financial officer owned 192,421 shares in the company, valued at $81,394,083. This represents a 4.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 400,398 shares of company stock worth $151,712,641 over the last ninety days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

NASDAQ APP opened at $446.40 on Thursday. The stock’s 50-day moving average price is $370.02 and its two-hundred day moving average price is $342.07. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market cap of $151.06 billion, a PE ratio of 63.41, a PEG ratio of 2.61 and a beta of 2.43. AppLovin Corporation has a 1 year low of $80.14 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. The firm’s quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. On average, analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

About AppLovin

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.