Morse Asset Management Inc Grows Holdings in AppLovin Corporation $APP

Morse Asset Management Inc increased its holdings in AppLovin Corporation (NASDAQ:APP) by 268.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,260 shares of the company’s stock after acquiring an additional 4,560 shares during the quarter. Morse Asset Management Inc’s holdings in AppLovin were worth $4,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of APP. Chilton Capital Management LLC purchased a new stake in AppLovin in the third quarter worth about $29,000. Activest Wealth Management lifted its holdings in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares during the last quarter. Heartwood Wealth Advisors LLC purchased a new position in shares of AppLovin during the third quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC boosted its position in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter. Finally, Bogart Wealth LLC boosted its position in shares of AppLovin by 100.0% in the 3rd quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock worth $34,000 after purchasing an additional 24 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the sale, the chief executive officer owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 188,033 shares of company stock worth $90,662,374 in the last ninety days. Insiders own 13.66% of the company’s stock.

AppLovin Stock Down 1.2%

Shares of AppLovin stock opened at $453.30 on Tuesday. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The company’s 50 day moving average is $490.72 and its 200 day moving average is $574.61. The company has a market cap of $152.89 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 0.81 and a beta of 2.51.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm’s revenue was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Wells Fargo & Company lowered their price target on AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Finally, Morgan Stanley set a $720.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $654.50.

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.