AppLovin Corporation $APP Holdings Raised by AE Wealth Management LLC

Key Points

• AE Wealth Management more than doubled its stake in AppLovin, raising holdings 107.1% to 12,068 shares worth $8.13 million per its latest 13F filing, while institutional investors/hedge funds hold about 41.85% of the stock.
• Significant insider selling occurred recently: CEO Arash Foroughi sold 50,000 shares and CTO Vasily Shikin sold 62,804 shares, and insiders sold 365,244 shares worth roughly $169.6 million in the last quarter (insiders still own 13.66%).
• Analyst sentiment and results: AppLovin has an average MarketBeat rating of "Moderate Buy" with a $661.95 average target, and it recently reported a quarterly beat — $3.24 EPS vs. $2.89 expected and $1.66 billion revenue, up 66% year-over-year.

AE Wealth Management LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 107.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,068 shares of the company's stock after purchasing an additional 6,241 shares during the period. AE Wealth Management LLC's holdings in AppLovin were worth $8,131,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Chilton Capital Management LLC acquired a new position in AppLovin during the third quarter valued at $29,000. Board of the Pension Protection Fund acquired a new position in AppLovin during the fourth quarter valued at $27,000. Activest Wealth Management raised its position 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 during the period. CBIZ Investment Advisory Services LLC raised 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 valued at $33,000 after buying an additional 17 shares during the period. Finally, Bogart Wealth LLC raised its position in AppLovin by 100.0% during the third quarter. Bogart Wealth LLC now owns 48 shares of the company's stock valued at $34,000 after buying an additional 24 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on APP shares. Arete Research set a $340.00 price target on AppLovin and gave the company a "neutral" rating in a research report on Monday, March 2nd. Benchmark reissued a "buy" rating on shares of AppLovin in a research report on Friday, March 6th. Argus started coverage on AppLovin in a research report on Tuesday, April 14th. They set a "buy" rating and a $520.00 price target on the stock. Zacks Research lowered AppLovin from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Finally, Piper Sandler reissued an "overweight" rating and set a $650.00 price target (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and an average target price of $661.95.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $477.20 on Friday. The business's 50-day moving average price is $429.44 and its two-hundred day moving average price is $546.59. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin Corporation has a one year low of $222.02 and a one year high of $745.61. The company has a market capitalization of $160.95 billion, a P/E ratio of 48.94, a price-to-earnings-growth ratio of 0.81 and a beta of 2.50.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results 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 return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The business's quarterly revenue was up 66.0% compared to the same quarter last year. Analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the sale, the chief executive officer owned 2,480,414 shares of the company's stock, valued at $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the sale, the chief technology officer directly owned 3,255,273 shares of the company's stock, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 365,244 shares of company stock valued at $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.

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