Leonteq Securities AG Raises Stake in AppLovin Corporation $APP

Leonteq Securities AG increased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 142.0% during the 1st quarter, HoldingsChannel reports. The fund owned 7,218 shares of the company’s stock after buying an additional 4,235 shares during the period. Leonteq Securities AG’s holdings in AppLovin were worth $2,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of APP. Vanguard Group Inc. boosted its position in shares of AppLovin by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after purchasing an additional 166,117 shares in the last quarter. State Street Corp increased its position in AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after buying an additional 52,377 shares in the last quarter. Geode Capital Management LLC increased its position in AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after buying an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after buying an additional 212,349 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in AppLovin by 10.7% in the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after acquiring an additional 538,806 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 6.7%

APP stock opened at $527.06 on Friday. The stock has a market capitalization of $177.06 billion, a P/E ratio of 45.28, a P/E/G ratio of 0.91 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 1-year low of $325.58 and a 1-year high of $745.61. The business has a fifty day moving average price of $500.97 and a 200-day moving average price of $504.62.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm posted $1.67 earnings per share. AppLovin’s revenue was up 58.9% compared to the same quarter last year. Equities analysts forecast that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on APP shares. Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Argus initiated coverage on AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target for the company. Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $668.27.

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.