Ameriprise Financial Inc. Has $260.12 Million Holdings in AppLovin Corporation $APP

Key Points

• Ameriprise Financial boosted its stake in AppLovin by 27.4% to 361,986 shares, holding roughly $260.12 million of stock (about 0.11% of the company) at the end of the quarter.
• Company insiders have been net sellers recently — including the CTO and other executives — with insiders offloading 188,033 shares worth about $90.66 million in the last quarter, leaving insiders owning 13.66% of the stock.
• Analysts have an average rating of "Moderate Buy" and an average price target of $654.50, while AppLovin reported a beat last quarter (EPS $3.24 vs. $2.89) and revenue of $1.66 billion, up 66% year-over-year.

Ameriprise Financial Inc. increased its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 27.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,986 shares of the company's stock after purchasing an additional 77,748 shares during the period. Ameriprise Financial Inc. owned approximately 0.11% of AppLovin worth $260,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. CBIZ Investment Advisory Services LLC boosted its position in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock worth $33,000 after purchasing an additional 17 shares during the period. Versant Capital Management Inc boosted its holdings in shares of AppLovin by 2.8% during the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company's stock worth $504,000 after buying an additional 19 shares during the period. Claro Advisors LLC boosted its holdings in shares of AppLovin by 3.2% during the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company's stock worth $465,000 after buying an additional 20 shares during the period. Optas LLC grew its stake in AppLovin by 2.5% in the 3rd quarter. Optas LLC now owns 877 shares of the company's stock valued at $630,000 after buying an additional 21 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its stake in AppLovin by 19.6% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company's stock valued at $96,000 after buying an additional 22 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 5,231 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total value of $2,497,645.57. Following the completion of the transaction, the chief technology officer directly owned 30,658 shares in the company, valued at approximately $14,638,275.26. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of the firm's stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the transaction, the insider directly owned 277,110 shares of the company's stock, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 188,033 shares of company stock worth $90,662,374. 13.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on APP shares. Citigroup cut their target price on shares of AppLovin from $820.00 to $710.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. BTIG Research lowered their price target on AppLovin from $771.00 to $640.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Weiss Ratings lowered AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, March 10th. Wedbush boosted their price objective on AppLovin from $465.00 to $640.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Finally, UBS Group set a $740.00 target price on AppLovin in a research note on Thursday, February 12th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $654.50.

AppLovin Stock Performance

NASDAQ APP opened at $453.30 on Tuesday. The company's fifty day moving average is $490.72 and its two-hundred day moving average is $574.61. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The firm has a market capitalization of $152.89 billion, a price-to-earnings ratio of 46.49, a P/E/G ratio of 0.81 and a beta of 2.51.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating 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 analyst estimates of $1.61 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The firm's revenue for the quarter was up 66.0% on a year-over-year basis. Equities research analysts forecast that AppLovin Corporation will post 6.87 EPS 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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