3,012 Shares in AppLovin Corporation $APP Acquired by Trust Asset Management LLC

Trust Asset Management LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP) during the 1st quarter, Holdings Channel.com reports. The firm acquired 3,012 shares of the company’s stock, valued at approximately $1,199,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin during the fourth quarter worth $27,000. Washington Trust Advisors Inc. boosted its stake in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in AppLovin during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC acquired a new position in AppLovin during the fourth quarter valued at approximately $32,000. Finally, CENTRAL TRUST Co increased its stake in AppLovin by 41.3% in the first quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock valued at $35,000 after purchasing an additional 26 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Oppenheimer dropped their price objective on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. UBS Group cut their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Price Performance

NASDAQ:APP opened at $445.93 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock’s 50 day moving average price is $496.75 and its two-hundred day moving average price is $511.12. The firm has a market capitalization of $149.81 billion, a price-to-earnings ratio of 38.31, a P/E/G ratio of 0.76 and a beta of 2.45. AppLovin Corporation has a 12-month low of $325.58 and a 12-month high of $745.61.

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

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer directly owned 3,189,739 shares in the company, valued at approximately $1,545,173,366.38. This represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 389,924 shares of company stock valued at $195,693,875 in the last three months. Insiders own 13.66% of the company’s stock.

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.