SG Americas Securities LLC Increases Stock Position in AppLovin Corporation $APP

SG Americas Securities LLC lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 43.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,469 shares of the company’s stock after buying an additional 33,311 shares during the period. SG Americas Securities LLC’s holdings in AppLovin were worth $43,967,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in AppLovin during the fourth quarter worth about $294,000. Bison Wealth LLC purchased a new stake in shares of AppLovin during the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC grew its holdings in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC grew its holdings in shares of AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. This represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Down 0.1%

NASDAQ APP opened at $469.39 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The business has a 50 day moving average price of $494.04 and a two-hundred day moving average price of $515.77. The stock has a market cap of $157.69 billion, a PE ratio of 40.33, a P/E/G ratio of 0.76 and a beta of 2.45.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm posted $1.67 earnings per share. The business’s quarterly revenue was up 58.9% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on APP shares. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Argus began coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective for the company. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Monday. Finally, KeyCorp set a $775.00 target price on shares of AppLovin in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $669.62.

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.