AppLovin Co. (NASDAQ:APP) Holdings Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in AppLovin Co. (NASDAQ:APP) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,718 shares of the company’s stock after selling 348 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AppLovin were worth $1,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the third quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter valued at $29,000. Finally, Quest Partners LLC bought a new stake in shares of AppLovin in the 2nd quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin 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 transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock worth $233,072,408 over the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP opened at $328.56 on Thursday. 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 $35.79 and a 1 year high of $344.77. The stock has a fifty day moving average price of $189.49 and a 200 day moving average price of $121.08. The stock has a market cap of $110.26 billion, a price-to-earnings ratio of 99.56, a PEG ratio of 3.94 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s revenue was up 38.6% compared to the same quarter last year. Analysts forecast that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APP. Jefferies Financial Group raised their target price on AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday. Loop Capital lifted their price objective on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Oppenheimer increased their target price on shares of AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

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.