Altshuler Shaham Ltd Increases Stock Position in AppLovin Corporation $APP

Altshuler Shaham Ltd boosted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 11,487.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,810 shares of the company's stock after buying an additional 126,707 shares during the period. Altshuler Shaham Ltd's holdings in AppLovin were worth $50,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Verdence Capital Advisors LLC boosted its position in AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Finivi Inc. lifted its position in shares of AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company's stock valued at $479,000 after buying an additional 22 shares during the last quarter. Alta Wealth Advisors LLC boosted its holdings in shares of AppLovin by 0.6% in the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company's stock valued at $2,645,000 after buying an additional 24 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after buying an additional 24 shares in the last quarter. Finally, IMA Advisory Services Inc. grew its position in shares of AppLovin by 40.0% in the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company's stock worth $33,000 after buying an additional 24 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APP. Piper Sandler restated an "overweight" rating on shares of AppLovin in a research note on Tuesday, July 7th. Citigroup reiterated a "buy" rating on shares of AppLovin in a report on Monday, June 22nd. JPMorgan Chase & Co. raised their price objective on AppLovin from $500.00 to $515.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Raymond James Financial initiated coverage on AppLovin in a research note on Monday, June 29th. They set a "strong-buy" rating and a $640.00 target price on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and a consensus target price of $668.45.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 20,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 393,000 shares of company stock valued at $197,297,363. Insiders own 12.81% of the company's stock.

AppLovin Trading Up 1.3%

NASDAQ APP opened at $418.22 on Wednesday. AppLovin Corporation has a 12-month low of $358.55 and a 12-month high of $745.61. The company has a fifty day simple moving average of $496.20 and a two-hundred day simple moving average of $476.06. 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 stock has a market cap of $140.50 billion, a P/E ratio of 35.93, a P/E/G ratio of 0.68 and a beta of 2.49.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The business's quarterly revenue was up 58.9% compared to the same quarter last year. On average, analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.

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.

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