Cookson Peirce & Co. Inc. Trims Stock Position in AppLovin Corporation $APP

Cookson Peirce & Co. Inc. lowered its position in shares of AppLovin Corporation (NASDAQ:APP) by 3.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 60,636 shares of the company’s stock after selling 2,164 shares during the period. AppLovin makes up 1.7% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 16th largest holding. Cookson Peirce & Co. Inc.’s holdings in AppLovin were worth $40,858,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of APP. Vanguard Group Inc. grew its stake in AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after acquiring an additional 7,051,663 shares in the last quarter. State Street Corp grew its stake in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Norges Bank purchased a new position in AppLovin in the 4th quarter worth approximately $2,040,321,000. Capital Research Global Investors purchased a new position in AppLovin in the 3rd quarter worth approximately $743,899,000. Finally, Northern Trust Corp grew its stake in AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after buying an additional 756,660 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 467,092 shares of company stock worth $220,268,340. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Down 0.3%

Shares of APP opened at $557.20 on Friday. The firm has a market cap of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The firm has a 50 day moving average price of $470.43 and a 200-day moving average price of $521.43.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 EPS. As a group, equities research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on APP. BTIG Research reissued a “buy” rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Argus began coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target for the company. Oppenheimer cut their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Finally, Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.