Retireful LLC Invests $1.36 Million in AppLovin Corporation $APP

Retireful LLC purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,891 shares of the company’s stock, valued at approximately $1,359,000. AppLovin makes up approximately 1.3% of Retireful LLC’s holdings, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of APP. Vanguard Group Inc. lifted its position in shares of AppLovin by 0.4% during the second quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock worth $6,267,410,000 after acquiring an additional 72,120 shares in the last quarter. State Street Corp lifted its holdings in AppLovin by 2.4% during the 2nd quarter. State Street Corp now owns 5,615,415 shares of the company’s stock worth $1,965,844,000 after purchasing an additional 133,402 shares in the last quarter. Kensico Capital Management Corp boosted its stake in AppLovin by 12.9% in the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after purchasing an additional 328,000 shares during the period. Fred Alger Management LLC boosted its stake in AppLovin by 12.0% in the 1st quarter. Fred Alger Management LLC now owns 2,833,792 shares of the company’s stock worth $750,870,000 after purchasing an additional 303,063 shares during the period. Finally, Norges Bank bought a new stake in shares of AppLovin during the second quarter valued at about $951,541,000. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

APP opened at $714.23 on Monday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $241.38 billion, a P/E ratio of 86.68, a PEG ratio of 3.83 and a beta of 2.51. The stock has a 50-day moving average price of $629.93 and a 200-day moving average price of $524.28. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.AppLovin’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. Equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director directly owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the transaction, the chief executive officer owned 2,998,948 shares in the company, valued at approximately $1,491,976,630. This represents a 0.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 340,336 shares of company stock valued at $200,062,623. Insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on shares of AppLovin and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Scotiabank increased their price objective on AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Royal Bank Of Canada boosted their target price on AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Bank of America upped their target price on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $695.90.

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.