Axxcess Wealth Management LLC Buys 5,214 Shares of AppLovin Corporation $APP

Axxcess Wealth Management LLC boosted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 45.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,728 shares of the company’s stock after acquiring an additional 5,214 shares during the quarter. Axxcess Wealth Management LLC’s holdings in AppLovin were worth $11,272,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Washington Trust Advisors Inc. boosted its stake in AppLovin by 160.0% in 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 in the last quarter. Chilton Capital Management LLC acquired a new position in AppLovin in the third quarter worth $29,000. Board of the Pension Protection Fund acquired a new position in AppLovin in the fourth quarter worth $27,000. Activest Wealth Management boosted its stake in AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

NASDAQ:APP opened at $481.68 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock’s 50 day moving average price is $446.31 and its two-hundred day moving average price is $523.95. The firm has a market capitalization of $161.82 billion, a price-to-earnings ratio of 41.38, a P/E/G ratio of 0.79 and a beta of 2.37. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61.

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

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the firm’s 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 sale, the chief executive officer owned 2,430,414 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 365,244 shares of company stock valued at $169,584,607 over the last 90 days. 13.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. BTIG Research reiterated a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Wells Fargo & Company lifted their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. UBS Group lowered their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, May 7th. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $664.35.

AppLovin 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.