Sunbelt Securities Inc. Has $2.65 Million Stock Position in AppLovin Corporation $APP

Sunbelt Securities Inc. boosted its position in AppLovin Corporation (NASDAQ:APP) by 304.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,681 shares of the company’s stock after acquiring an additional 2,770 shares during the quarter. Sunbelt Securities Inc.’s holdings in AppLovin were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of APP. Chilton Capital Management LLC acquired a new position in AppLovin during the 3rd quarter worth $29,000. Activest Wealth Management grew its position in shares of AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of AppLovin in the second quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new position in shares of AppLovin during the 3rd quarter worth about $33,000. Finally, CBIZ Investment Advisory Services LLC lifted its position in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the sale, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the sale, the chief technology officer directly owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 188,033 shares of company stock valued at $90,662,374. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $459.09 on Wednesday. The business has a fifty day simple moving average of $487.56 and a 200 day simple moving average of $574.47. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $154.84 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 0.80 and a beta of 2.51. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61.

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

Analysts Set New Price Targets

APP has been the topic of a number of research analyst reports. BTIG Research lowered their target price on AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Citigroup reduced their price objective on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Scotiabank boosted their target price on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. UBS Group set a $740.00 price target on shares of AppLovin in a report on Thursday, February 12th. Finally, Wedbush raised their price target on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $654.50.

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.