Investment House LLC Has $33.94 Million Position in AppLovin Corporation $APP

Investment House LLC lowered its position in AppLovin Corporation (NASDAQ:APP) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,370 shares of the company’s stock after selling 1,415 shares during the quarter. AppLovin makes up about 1.6% of Investment House LLC’s investment portfolio, making the stock its 14th largest holding. Investment House LLC’s holdings in AppLovin were worth $33,940,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mediolanum International Funds Ltd raised its position in shares of AppLovin by 73.5% in the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after purchasing an additional 32,510 shares during the period. Allworth Financial LP raised its position in shares of AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the period. CIBC Asset Management Inc raised its position in shares of AppLovin by 14.8% in the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after purchasing an additional 15,074 shares during the period. APG Asset Management N.V. bought a new position in shares of AppLovin in the third quarter valued at about $4,958,000. Finally, Trek Financial LLC raised its position in shares of AppLovin by 851.6% in the third quarter. Trek Financial LLC now owns 9,630 shares of the company’s stock valued at $6,920,000 after purchasing an additional 8,618 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

NASDAQ:APP opened at $476.90 on Wednesday. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The firm has a market cap of $160.21 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 0.80 and a beta of 2.37. The firm’s 50-day simple moving average is $446.43 and its 200 day simple moving average is $526.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm earned $1.67 EPS. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 in the last ninety days. 13.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. 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 research report on Thursday, May 7th. Scotiabank raised their price target on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. The Goldman Sachs Group lowered their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Finally, Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.