Northstar Advisory Group LLC Sells 1,872 Shares of AppLovin Corporation $APP

Northstar Advisory Group LLC decreased its position in AppLovin Corporation (NASDAQ:APP) by 28.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,643 shares of the company’s stock after selling 1,872 shares during the quarter. Northstar Advisory Group LLC’s holdings in AppLovin were worth $3,129,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new stake in AppLovin in the 3rd quarter valued at $29,000. Board of the Pension Protection Fund bought a new position in AppLovin during the 4th quarter worth $27,000. Activest Wealth Management lifted its holdings in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after buying an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in shares of AppLovin during the third quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on APP shares. Arete Research set a $340.00 price target on shares of AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. BTIG Research cut their price objective on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Piper Sandler restated an “overweight” rating and set a $650.00 target price (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Scotiabank raised their target price on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Wells Fargo & Company dropped their price target on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $668.20.

AppLovin Stock Down 2.4%

APP stock opened at $372.08 on Tuesday. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The business has a 50-day simple moving average of $451.84 and a 200 day simple moving average of $568.27. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The company has a market cap of $125.50 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 0.66 and a beta of 2.51.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company earned $1.73 EPS. The business’s revenue for the quarter was up 66.0% compared to the same quarter last year. Sell-side analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the sale, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock valued at $169,584,607 over the last three months. 13.66% of the stock is owned by insiders.

AppLovin 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.