AppLovin Corporation $APP Shares Purchased by Profund Advisors LLC

Profund Advisors LLC lifted its position in AppLovin Corporation (NASDAQ:APP) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,642 shares of the company’s stock after purchasing an additional 1,478 shares during the quarter. AppLovin makes up 0.6% of Profund Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Profund Advisors LLC’s holdings in AppLovin were worth $19,300,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Chilton Capital Management LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the 4th quarter valued at about $27,000. Activest Wealth Management boosted its position in shares of AppLovin by 760.0% in the 3rd 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 period. Finally, 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 valued at $33,000 after purchasing an additional 17 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Arete Research set a $340.00 price objective on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. upped their price objective on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Citigroup reduced their price objective on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. One equities research 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 company has an average rating of “Moderate Buy” and an average price target of $664.35.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was 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 approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 365,244 shares of company stock valued at $169,584,607. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Down 1.7%

APP opened at $492.38 on Tuesday. The business has a 50 day moving average price of $446.94 and a two-hundred day moving average price of $527.38. 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 company has a market cap of $165.41 billion, a PE ratio of 42.30, a P/E/G ratio of 0.81 and a beta of 2.37. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The business 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 company’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 EPS. As a group, research analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current year.

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.