LVW Advisors LLC Takes Position in AppLovin Corporation $APP

by · The Cerbat Gem

LVW Advisors LLC bought a new position in AppLovin Corporation (NASDAQ:APP – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,007 shares of the company’s stock, valued at approximately $724,000.

Several other hedge funds and other institutional investors also recently modified their holdings of APP. Norges Bank bought a new position in AppLovin in the 2nd quarter worth about $951,541,000. Amundi lifted its holdings in shares of AppLovin by 82.8% in the first quarter. Amundi now owns 1,103,586 shares of the company’s stock worth $289,117,000 after buying an additional 499,820 shares in the last quarter. National Pension Service boosted its position in shares of AppLovin by 82.2% in the second quarter. National Pension Service now owns 790,271 shares of the company’s stock valued at $276,658,000 after acquiring an additional 356,443 shares during the period. Voya Investment Management LLC boosted its position in shares of AppLovin by 235.5% in the third quarter. Voya Investment Management LLC now owns 496,560 shares of the company’s stock valued at $356,800,000 after acquiring an additional 348,548 shares during the period. Finally, Kensico Capital Management Corp grew its stake in AppLovin by 12.9% during the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after acquiring an additional 328,000 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP opened at $693.43 on Wednesday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $234.35 billion, a P/E ratio of 84.15, a PEG ratio of 3.75 and a beta of 2.51. The stock has a 50-day moving average price of $635.40 and a 200-day moving average price of $528.84. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $1.29 EPS. AppLovin’s quarterly revenue was up 68.2% compared to the same quarter last year. Equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on APP shares. Scotiabank boosted their price target on shares of AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group boosted their target price on AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Oppenheimer set a $740.00 price target on AppLovin in a report on Tuesday, October 7th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Morgan Stanley upped their price objective on shares of AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $695.90.

Check Out Our Latest Research Report on APP

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction on Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the transaction, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the sale, the director owned 7,133,292 shares of the company’s stock, valued at approximately $4,643,131,095.72. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 340,336 shares of company stock valued at $200,062,623. Insiders own 13.66% of the company’s stock.

AppLovin Profile

(Free Report)

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.

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