AppLovin Corporation $APP Shares Purchased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC increased its stake in AppLovin Corporation (NASDAQ:APP) by 74.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,713 shares of the company’s stock after acquiring an additional 1,158 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in AppLovin were worth $1,828,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in APP. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the fourth quarter valued at about $27,000. Washington Trust Advisors Inc. increased its stake in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Chilton Capital Management LLC acquired a new position in shares of AppLovin during the 3rd quarter worth about $29,000. Activest Wealth Management lifted its stake in 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 buying an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in AppLovin in the 4th quarter valued at about $32,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 5.6%

APP stock opened at $599.89 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average of $453.17 and a two-hundred day moving average of $521.05. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a market cap of $201.53 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 0.92 and a beta of 2.37.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APP. JPMorgan Chase & Co. lifted their price objective on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research report on Wednesday. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Finally, Piper Sandler increased their price objective on AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 454,964 shares of company stock valued at $213,046,785. 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.