Charles Schwab Investment Management Inc. Sells 374,972 Shares of AppLovin Co. (NASDAQ:APP)

Charles Schwab Investment Management Inc. decreased its position in AppLovin Co. (NASDAQ:APP) by 28.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 950,940 shares of the company’s stock after selling 374,972 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.28% of AppLovin worth $124,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin in the third quarter worth $29,000. Finally, HM Payson & Co. raised its holdings in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

Shares of NASDAQ APP opened at $319.59 on Tuesday. The company has a 50 day simple moving average of $185.37 and a two-hundred day simple moving average of $119.37. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $344.77. The company has a market capitalization of $107.25 billion, a price-to-earnings ratio of 96.85, a P/E/G ratio of 4.11 and a beta of 1.86. 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 posted 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 during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. Analysts expect that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on APP shares. Jefferies Financial Group raised their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark restated a “sell” rating and set a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Finally, Bank of America raised their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.34.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction on Friday, November 22nd. The stock was 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 directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at $952,673.78. This represents a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 854,065 shares of company stock valued at $233,072,408 in the last quarter. 14.69% of the stock is owned by insiders.

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.