20,000 Shares in AppLovin Corporation $APP Bought by Telemark Asset Management LLC

Telemark Asset Management LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the company’s stock, valued at approximately $13,476,000. AppLovin comprises about 1.3% of Telemark Asset Management LLC’s holdings, making the stock its 25th largest position.

A number of other large investors have also bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin in the fourth quarter worth $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the fourth quarter worth $239,000. Integrated Wealth Concepts LLC grew its holdings in AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC grew its holdings in AppLovin by 5.7% in the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 467,092 shares of company stock valued at $220,268,340 in the last three months. 13.66% of the stock is owned by company insiders.

Analyst Ratings Changes

APP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Piper Sandler raised their price target on shares of AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $664.35.

AppLovin Stock Down 0.3%

Shares of NASDAQ APP opened at $557.20 on Friday. The stock has a market capitalization of $187.19 billion, a P/E ratio of 47.87, a P/E/G ratio of 0.91 and a beta of 2.45. The company has a 50-day moving average price of $470.43 and a 200-day moving average price of $521.43. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. 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 (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The business’s revenue was up 58.9% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

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.