AppLovin Corporation $APP Shares Acquired by Twin Capital Management Inc.

Twin Capital Management Inc. lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 42.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,385 shares of the company’s stock after buying an additional 1,314 shares during the quarter. Twin Capital Management Inc.’s holdings in AppLovin were worth $2,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in APP. Mach 1 Financial Group LLC purchased a new stake in AppLovin during the 4th quarter worth about $1,104,000. Sierra Summit Advisors LLC increased its position in AppLovin by 59.6% during the 4th quarter. Sierra Summit Advisors LLC now owns 18,486 shares of the company’s stock worth $12,456,000 after purchasing an additional 6,901 shares in the last quarter. MJP Associates Inc. ADV increased its position in AppLovin by 13.2% during the 4th quarter. MJP Associates Inc. ADV now owns 387 shares of the company’s stock worth $261,000 after purchasing an additional 45 shares in the last quarter. Leonteq Securities AG purchased a new stake in AppLovin during the 4th quarter worth about $2,010,000. Finally, Pinkerton Wealth LLC purchased a new stake in AppLovin during the 4th quarter worth about $1,316,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction that occurred 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 directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 in the last three months. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $482.28 on Thursday. The stock’s 50 day moving average price is $445.73 and its 200 day moving average price is $525.32. The firm has a market capitalization of $162.02 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 0.78 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 EPS. As a group, sell-side analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on APP shares. Wells Fargo & Company lifted their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Oppenheimer dropped their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Jefferies Financial Group dropped their price objective on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, Scotiabank lifted their price target on AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $664.35.

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.