Dara Capital US Inc. purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,593 shares of the company's stock, valued at approximately $1,747,000. AppLovin makes up about 1.5% of Dara Capital US Inc.'s portfolio, making the stock its 17th biggest holding.
Other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of AppLovin in the third quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in AppLovin during the fourth quarter valued at approximately $27,000. Activest Wealth Management raised its stake in 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 buying an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in AppLovin during the third quarter valued at approximately $33,000. Finally, CBIZ Investment Advisory Services LLC raised its stake in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock valued at $33,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.
Insider Buying and Selling
In related news, 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 completion of the transaction, the director directly owned 6,969,382 shares of the company's stock, valued at $3,160,545,043.18. This represents a 2.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value 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 $1,155,972,140.56. This trade represents a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 365,244 shares of company stock valued at $169,584,607 in the last three months. 13.66% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several analysts have issued reports on the company. Piper Sandler restated an "overweight" rating and set a $650.00 price objective (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Jefferies Financial Group cut their price objective on AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Scotiabank upped their price objective on AppLovin from $750.00 to $775.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Wells Fargo & Company upped their price objective on AppLovin from $543.00 to $560.00 and gave the company an "overweight" rating in a research note on Monday, April 6th. Finally, BTIG Research lowered their target price on AppLovin from $771.00 to $640.00 and set a "buy" rating for the company in a report on Thursday, February 12th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $669.05.
Check Out Our Latest Stock Report on APP
AppLovin Stock Up 3.2%
NASDAQ:APP opened at $391.45 on Friday. The firm has a market capitalization of $132.03 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 0.68 and a beta of 2.50. The stock has a 50 day moving average of $426.55 and a 200-day moving average of $554.45. AppLovin Corporation has a 52 week low of $222.02 and a 52 week high of $745.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65.
AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business's revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 earnings per share. Analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.
About AppLovin
(
Free Report)
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.
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