AppLovin Corporation $APP Position Increased by M&T Bank Corp

M&T Bank Corp boosted its position in shares of AppLovin Corporation (NASDAQ:APP) by 5.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,775 shares of the company’s stock after purchasing an additional 1,446 shares during the period. M&T Bank Corp’s holdings in AppLovin were worth $18,716,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of APP. CBIZ Investment Advisory Services LLC grew its position in AppLovin by 58.6% in 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 in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of AppLovin by 2.8% in the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock valued at $504,000 after purchasing an additional 19 shares during the last quarter. Finally, Claro Advisors LLC boosted its holdings in AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after purchasing an additional 20 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Up 3.3%

AppLovin stock opened at $475.00 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin Corporation has a fifty-two week low of $290.96 and a fifty-two week high of $745.61. The firm has a fifty day moving average price of $437.77 and a two-hundred day moving average price of $535.51. The firm has a market cap of $160.21 billion, a price-to-earnings ratio of 48.72, a P/E/G ratio of 0.80 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm’s revenue was up 66.0% compared to the same quarter last year. During the same period last year, the business posted $1.73 earnings per share. As a group, analysts forecast that AppLovin Corporation will post 15.72 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total value of $2,497,645.57. Following the transaction, the chief technology officer directly owned 30,658 shares of the company’s stock, valued at $14,638,275.26. The trade was a 14.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 365,244 shares of company stock valued at $169,584,607 in the last 90 days. 13.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on APP. Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $700.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Argus initiated coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, Citigroup reduced their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $673.25.

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.