World Investment Advisors Raises Stock Holdings in AppLovin Corporation $APP

World Investment Advisors boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 261.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,627 shares of the company’s stock after acquiring an additional 4,071 shares during the period. World Investment Advisors’ holdings in AppLovin were worth $3,791,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Nalls Sherbakoff Group LLC purchased a new position in AppLovin in the 4th quarter worth about $270,000. Corient Private Wealth LLC raised its position in AppLovin by 11.0% in the 4th quarter. Corient Private Wealth LLC now owns 144,579 shares of the company’s stock worth $97,440,000 after buying an additional 14,271 shares during the last quarter. Pure Financial Advisors LLC raised its position in AppLovin by 12.0% in the 4th quarter. Pure Financial Advisors LLC now owns 337 shares of the company’s stock worth $227,000 after buying an additional 36 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of AppLovin by 31.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,461 shares of the company’s stock valued at $985,000 after purchasing an additional 346 shares during the last quarter. Finally, SHP Wealth Management purchased a new stake in shares of AppLovin during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 3.8%

APP stock opened at $496.77 on Friday. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The company has a market capitalization of $166.88 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.78 and a beta of 2.45. The business has a 50 day simple moving average of $482.88 and a two-hundred day simple moving average of $520.84.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. Research analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Wedbush reaffirmed an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Citigroup reiterated a “buy” rating and set a $710.00 price objective on shares of AppLovin in a research note on Monday, June 1st. KeyCorp set a $775.00 price objective on AppLovin in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price objective on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Insider Activity

In other news, CFO Matthew Stumpf sold 9,052 shares of the 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 transaction, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. This represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the transaction, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. This represents a 1.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 389,924 shares of company stock worth $187,404,946. 13.66% of the stock is owned by corporate insiders.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

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.