Western Financial Corp CA Acquires 6,497 Shares of AppLovin Corporation (NASDAQ:APP)

Western Financial Corp CA boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 395.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,141 shares of the company’s stock after acquiring an additional 6,497 shares during the quarter. AppLovin makes up approximately 1.3% of Western Financial Corp CA’s portfolio, making the stock its 11th largest holding. Western Financial Corp CA’s holdings in AppLovin were worth $2,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC raised its position in AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after acquiring an additional 31 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after purchasing an additional 33 shares during the last quarter. Forum Financial Management LP grew its holdings in AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock valued at $1,223,000 after purchasing an additional 33 shares during the last quarter. Truvestments Capital LLC grew its holdings in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after purchasing an additional 38 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $97,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the sale, the director now owns 221,209 shares in the company, valued at $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction on Monday, May 19th. The stock was sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the sale, the insider now owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock worth $455,062,980 over the last 90 days. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Down 3.1%

Shares of APP stock opened at $338.80 on Thursday. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The firm’s fifty day simple moving average is $339.45 and its 200 day simple moving average is $333.54. The firm has a market capitalization of $114.65 billion, a P/E ratio of 61.16, a price-to-earnings-growth ratio of 2.03 and a beta of 2.53. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. The business’s revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on APP. UBS Group increased their price target on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, May 8th. FBN Securities began coverage on AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Wednesday, May 28th. The Goldman Sachs Group increased their price target on AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Jefferies Financial Group increased their price target on AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $438.10.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.