Mach 1 Financial Group LLC Purchases New Shares in AppLovin Corporation $APP

Mach 1 Financial Group LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,639 shares of the company’s stock, valued at approximately $1,104,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sierra Summit Advisors LLC grew its stake in shares of AppLovin by 59.6% in the fourth quarter. Sierra Summit Advisors LLC now owns 18,486 shares of the company’s stock valued at $12,456,000 after acquiring an additional 6,901 shares in the last quarter. MJP Associates Inc. ADV grew its stake in shares of AppLovin by 13.2% in the fourth quarter. MJP Associates Inc. ADV now owns 387 shares of the company’s stock valued at $261,000 after acquiring an additional 45 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of AppLovin in the fourth quarter valued at about $2,010,000. Pinkerton Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter valued at about $1,316,000. Finally, ABN Amro Investment Solutions lifted its position in AppLovin by 28.0% during the fourth quarter. ABN Amro Investment Solutions now owns 11,218 shares of the company’s stock worth $7,559,000 after purchasing an additional 2,451 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Wells Fargo & Company upped their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Finally, Scotiabank upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

AppLovin Trading Up 1.1%

APP opened at $482.28 on Thursday. The stock has a market capitalization of $162.02 billion, a price-to-earnings ratio of 41.43, a P/E/G ratio of 0.78 and a beta of 2.37. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The company has a 50-day simple moving average of $445.73 and a 200 day simple moving average of $525.32.

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

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. 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 dated Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is currently owned by insiders.

AppLovin Company 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.