Jacobson & Schmitt Advisors LLC Lowers Position in AppLovin Corporation $APP

Jacobson & Schmitt Advisors LLC trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,704 shares of the company’s stock after selling 3,514 shares during the period. AppLovin comprises about 2.1% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 27th largest position. Jacobson & Schmitt Advisors LLC’s holdings in AppLovin were worth $11,799,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Revolve Wealth Partners LLC purchased a new stake in shares of AppLovin in the 4th quarter worth approximately $294,000. Bison Wealth LLC bought a new position in AppLovin in the fourth quarter worth approximately $239,000. DAVENPORT & Co LLC lifted its holdings in AppLovin by 15.3% during the first quarter. DAVENPORT & Co LLC now owns 2,058 shares of the company’s stock worth $545,000 after buying an additional 273 shares during the period. Principal Financial Group Inc. lifted its holdings in AppLovin by 33.5% during the first quarter. Principal Financial Group Inc. now owns 78,928 shares of the company’s stock worth $20,914,000 after buying an additional 19,822 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in AppLovin by 37.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,906 shares of the company’s stock valued at $770,000 after acquiring an additional 790 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of AppLovin stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the sale, the director owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 35,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last three months. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

APP opened at $608.68 on Wednesday. The company has a market cap of $205.89 billion, a P/E ratio of 86.46, a price-to-earnings-growth ratio of 3.43 and a beta of 2.50. AppLovin Corporation has a 52-week low of $160.52 and a 52-week high of $745.61. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm’s 50-day moving average price is $596.21 and its 200-day moving average price is $445.26.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group boosted their price target on AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $606.39.

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.