Capital World Investors Raises Position in AppLovin Corporation $APP

Capital World Investors lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,778,549 shares of the company’s stock after purchasing an additional 143,361 shares during the period. Capital World Investors owned 0.82% of AppLovin worth $1,872,242,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC increased its stake in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its stake in AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares in the last quarter. Claro Advisors LLC grew its stake in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares in the last quarter. Finally, Strategic Advocates LLC grew its stake in AppLovin by 0.8% in the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction on Friday, June 5th. The shares were sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the sale, the director directly owned 123,520 shares of the company’s stock, valued at approximately $71,893,580.80. The trade was a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of AppLovin stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 467,092 shares of company stock worth $220,268,340 in the last three months. 13.66% of the stock is owned by insiders.

AppLovin Stock Down 0.3%

APP opened at $557.20 on Friday. The company has a fifty day moving average price of $470.43 and a 200-day moving average price of $521.43. The firm has a market capitalization of $187.19 billion, a P/E ratio of 47.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. 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 one year low of $320.00 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $1.67 EPS. The firm’s revenue was up 58.9% compared to the same quarter last year. Equities research analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on APP. Wedbush reiterated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. The Goldman Sachs Group reduced their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Arete Research set a $340.00 price target on shares of AppLovin and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average 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.