Northstar Advisory Group LLC Increases Holdings in AppLovin Corporation $APP

Northstar Advisory Group LLC increased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 42.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,515 shares of the company’s stock after acquiring an additional 1,942 shares during the period. AppLovin comprises approximately 1.9% of Northstar Advisory Group LLC’s portfolio, making the stock its 16th biggest holding. Northstar Advisory Group LLC’s holdings in AppLovin were worth $4,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in AppLovin during the 4th quarter valued at approximately $294,000. Bison Wealth LLC purchased a new position in shares of AppLovin in the fourth quarter worth $239,000. Integrated Wealth Concepts LLC boosted its position in shares of AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the last quarter. ORG Partners LLC boosted its position in shares of AppLovin by 146.5% during the second quarter. ORG Partners LLC now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 63 shares during the last quarter. Finally, Signaturefd LLC grew its stake in AppLovin by 6.6% during the second quarter. Signaturefd LLC now owns 3,762 shares of the company’s stock valued at $1,317,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on APP shares. Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Evercore ISI initiated coverage on AppLovin in a report on Wednesday, January 14th. They issued an “outperform” rating and a $835.00 target price on the stock. Weiss Ratings lowered AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. Bank of America raised their price target on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Wedbush lifted their price objective on AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $706.45.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 150 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 340,336 shares of company stock worth $200,062,623 over the last 90 days. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $535.44 on Tuesday. The firm has a market capitalization of $180.95 billion, a price-to-earnings ratio of 64.98, a PEG ratio of 1.73 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The business has a 50 day simple moving average of $634.72 and a 200-day simple moving average of $563.64. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61.

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

About AppLovin

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.