Wellington Management Group LLP Has $2.14 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Wellington Management Group LLP reduced its position in AppLovin Co. (NASDAQ:APP) by 87.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,352 shares of the company’s stock after selling 115,316 shares during the period. Wellington Management Group LLP’s holdings in AppLovin were worth $2,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WCM Investment Management LLC lifted its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. FMR LLC lifted its position in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. Lone Pine Capital LLC boosted its stake in shares of AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares in the last quarter. State Street Corp increased its holdings in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in shares of AppLovin by 1.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock valued at $462,077,000 after acquiring an additional 46,854 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

NASDAQ:APP opened at $313.07 on Thursday. The company has a market capitalization of $105.06 billion, a price-to-earnings ratio of 94.87, a PEG ratio of 4.17 and a beta of 2.28. The company has a 50-day moving average of $257.36 and a 200-day moving average of $150.02. AppLovin Co. has a 52 week low of $37.40 and a 52 week high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 872,896 shares of company stock worth $279,773,021 over the last three months. Company insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent analyst reports. BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Loop Capital lifted their target price on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday. Wedbush restated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.71.

AppLovin 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.