Mach 1 Financial Group LLC Takes $1.10 Million Position in AppLovin Corporation $APP

Mach 1 Financial Group LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the 4th quarter, Holdings Channel.com reports. The fund acquired 1,639 shares of the company’s stock, valued at approximately $1,104,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund acquired a new position in shares of AppLovin during the fourth quarter worth $27,000. Washington Trust Advisors Inc. lifted its holdings in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Chilton Capital Management LLC acquired a new position in shares of AppLovin during the third quarter worth $29,000. Activest Wealth Management lifted its holdings in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin during the fourth quarter worth $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $482.28 on Thursday. The company has a market capitalization of $162.02 billion, a PE ratio of 41.43, a P/E/G ratio of 0.78 and a beta of 2.37. The company has a 50 day simple moving average of $445.73 and a two-hundred day simple moving average of $525.32. 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 fifty-two week low of $320.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’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 firm posted $1.67 EPS. Research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the transaction, the chief executive officer directly owned 2,430,414 shares in the company, valued at $1,117,625,877.90. This trade represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction 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 completion of the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 365,244 shares of company stock valued at $169,584,607 in the last quarter. 13.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on APP shares. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of AppLovin in a report on Thursday, May 7th. Oppenheimer cut their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Finally, Weiss Ratings downgraded shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $664.35.

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.