WBI Investments LLC Acquires Shares of 1,581 AppLovin Corporation $APP

WBI Investments LLC purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,581 shares of the company’s stock, valued at approximately $1,136,000.

A number of other hedge funds also recently added to or reduced their stakes in APP. Sunbelt Securities Inc. raised its stake in shares of AppLovin by 304.1% during the third quarter. Sunbelt Securities Inc. now owns 3,681 shares of the company’s stock worth $2,645,000 after purchasing an additional 2,770 shares during the last quarter. Coldstream Capital Management Inc. grew its position in AppLovin by 15.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,078 shares of the company’s stock valued at $2,930,000 after buying an additional 532 shares during the last quarter. Danske Bank A S acquired a new position in AppLovin in the 3rd quarter valued at $116,061,000. Provident Investment Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at $699,000. Finally, Silvant Capital Management LLC raised its position in AppLovin by 6.8% during the 3rd quarter. Silvant Capital Management LLC now owns 15,001 shares of the company’s stock worth $10,779,000 after buying an additional 959 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the transaction, the insider owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 5,231 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer directly owned 30,658 shares in the company, valued at approximately $14,638,275.26. The trade was a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 188,033 shares of company stock worth $90,662,374. 13.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on APP shares. Citigroup cut their price objective on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on AppLovin in a report on Thursday, February 12th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. Finally, Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Twenty 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 an average rating of “Moderate Buy” and an average price target of $654.50.

AppLovin Stock Up 1.3%

APP opened at $459.09 on Wednesday. The company has a market cap of $154.84 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 0.80 and a beta of 2.51. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The business’s fifty day moving average is $487.56 and its two-hundred day moving average is $574.47.

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

About AppLovin

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.