AppLovin Corporation $APP Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its stake in AppLovin Corporation (NASDAQ:APP) by 3,118.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,194,071 shares of the company’s stock after acquiring an additional 4,063,763 shares during the quarter. AppLovin comprises approximately 1.5% of Corient Private Wealth LLC’s portfolio, making the stock its 14th biggest holding. Corient Private Wealth LLC’s holdings in AppLovin were worth $2,826,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Revolve Wealth Partners LLC purchased a new stake in AppLovin during the 4th quarter worth about $294,000. Bison Wealth LLC purchased a new position in AppLovin in the 4th quarter valued at about $239,000. Integrated Wealth Concepts LLC lifted its holdings in AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on APP shares. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Wells Fargo & Company raised their target price 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. KeyCorp set a $775.00 target price on shares of AppLovin in a research note on Wednesday, June 10th. Oppenheimer cut their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

AppLovin Trading Down 2.0%

NASDAQ APP opened at $469.71 on Friday. The company has a market cap of $157.79 billion, a P/E ratio of 40.35, a P/E/G ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The company has a 50-day moving average of $490.66 and a 200-day moving average of $518.14.

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

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer directly owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 389,924 shares of company stock valued at $195,693,875 over the last 90 days. 13.66% of the stock is currently owned by insiders.

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.