Los Angeles Capital Management LLC Grows Stake in AppLovin Corporation $APP

Los Angeles Capital Management LLC grew its position in AppLovin Corporation (NASDAQ:APP) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,800 shares of the company’s stock after purchasing an additional 11,122 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AppLovin were worth $95,451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of AppLovin by 131.7% during the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after buying an additional 3,438 shares during the period. APG Asset Management N.V. acquired a new stake in shares of AppLovin during the third quarter worth $4,958,000. Metis Global Partners LLC lifted its stake in shares of AppLovin by 138.3% during the third quarter. Metis Global Partners LLC now owns 10,094 shares of the company’s stock worth $7,253,000 after buying an additional 5,859 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of AppLovin by 35.4% during the third quarter. Stratos Wealth Partners LTD. now owns 27,831 shares of the company’s stock worth $19,998,000 after buying an additional 7,271 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of AppLovin by 24.9% during the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after buying an additional 487,492 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings downgraded shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. The Goldman Sachs Group lowered their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 28th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, Wells Fargo & Company lifted their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $664.35.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 467,092 shares of company stock valued at $220,268,340. Company insiders own 13.66% of the company’s stock.

AppLovin Trading Down 0.3%

NASDAQ APP opened at $557.20 on Friday. The company has a market capitalization of $187.19 billion, a PE ratio of 47.87, a P/E/G ratio of 0.91 and a beta of 2.45. The company has a fifty day moving average of $470.43 and a 200 day moving average of $521.43. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 64.29% and a return on equity of 219.37%. The firm’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 earnings per share. Research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

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.