3,364 Shares in AppLovin Corporation $APP Purchased by TriaGen Wealth Management LLC

Key Points

• TriaGen Wealth Management purchased a new stake of 3,364 shares in AppLovin (NASDAQ:APP) in Q4, valued at about $2.27 million, while institutional investors own roughly 41.85% of the company.
• AppLovin beat quarterly expectations with $3.24 EPS versus $2.89 expected and revenue of $1.66 billion (up 66% year-over-year), reporting a 57.4% net margin and very strong return on equity.
• Insiders have been net sellers recently—disposing of 365,244 shares worth about $169.6 million in the past three months (including large sales by a director and the CEO), though insiders still hold 13.66% of the stock.

TriaGen Wealth Management LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,364 shares of the company's stock, valued at approximately $2,267,000.

Several other hedge funds have also bought and sold shares of the stock. CBIZ Investment Advisory Services LLC increased its holdings in shares of AppLovin by 58.6% during 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 in the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company's stock worth $431,000 after buying an additional 18 shares in the last quarter. Versant Capital Management Inc grew its position in AppLovin by 2.8% during the third quarter. Versant Capital Management Inc now owns 701 shares of the company's stock valued at $504,000 after buying an additional 19 shares during the period. Claro Advisors LLC grew its position in AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company's stock valued at $465,000 after buying an additional 20 shares during the period. Finally, Optas LLC increased its holdings in AppLovin by 2.5% in the third quarter. Optas LLC now owns 877 shares of the company's stock valued at $630,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

APP opened at $477.20 on Monday. The firm's fifty day simple moving average is $429.44 and its two-hundred day simple moving average is $545.48. AppLovin Corporation has a 52-week low of $222.02 and a 52-week high of $745.61. The company has a market cap of $160.95 billion, a price-to-earnings ratio of 48.94, a PEG ratio of 0.83 and a beta of 2.50. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The company's quarterly revenue was up 66.0% on a year-over-year basis. Equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APP. The Goldman Sachs Group decreased their price objective on shares of AppLovin from $710.00 to $585.00 and set a "neutral" rating for the company in a research report on Thursday, February 12th. Arete Research set a $340.00 price target on AppLovin and gave the company a "neutral" rating in a research note on Monday, March 2nd. Morgan Stanley set a $720.00 price target on AppLovin in a research note on Thursday, February 12th. Weiss Ratings cut AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, March 10th. Finally, Wells Fargo & Company raised their price objective on AppLovin from $543.00 to $560.00 and gave the company an "overweight" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $661.95.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 163,910 shares of the firm's 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 owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of AppLovin stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 365,244 shares of company stock worth $169,584,607. Insiders own 13.66% of the company's stock.

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.