AppLovin Corporation $APP is WCM Investment Management LLC's 4th Largest Position

Key Points

• WCM Investment Management increased its AppLovin stake by 5.2% in the first quarter, making APP its 4th largest holding at about 4.2% of the portfolio.
• AppLovin insiders have been selling shares recently, including CEO Arash Adam Foroughi and CTO Vasily Shikin, with $197.3 million in insider sales over the last 90 days.
• The company reported strong quarterly results, beating EPS estimates with $3.56 per share on $1.84 billion in revenue, while analysts currently hold a Moderate Buy consensus and a target price of $668.45.

WCM Investment Management LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,001,600 shares of the company's stock after buying an additional 245,290 shares during the quarter. AppLovin makes up about 4.2% of WCM Investment Management LLC's investment portfolio, making the stock its 4th largest holding. WCM Investment Management LLC owned approximately 1.48% of AppLovin worth $1,860,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. grew its holdings in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in AppLovin in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $32,000. First Pacific Financial bought a new position in AppLovin during the first quarter worth $33,000. Finally, IMA Advisory Services Inc. lifted its stake in AppLovin by 40.0% during the first quarter. IMA Advisory Services Inc. now owns 84 shares of the company's stock worth $33,000 after purchasing an additional 24 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 33,042 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. The trade was a 1.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 62,804 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the transaction, the chief technology officer owned 3,189,739 shares of the company's stock, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 393,000 shares of company stock valued at $197,297,363. 13.66% of the stock is currently owned by insiders.

AppLovin Price Performance

APP stock opened at $424.54 on Monday. The stock has a market cap of $142.62 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49. The firm's 50-day simple moving average is $506.01 and its 200 day simple moving average is $487.71. AppLovin Corporation has a fifty-two week low of $343.00 and a fifty-two week high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business posted $1.67 EPS. AppLovin's revenue was up 58.9% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Corporation will post 15.93 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on APP. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Piper Sandler reaffirmed an "overweight" rating on shares of AppLovin in a report on Tuesday, July 7th. UBS Group cut their target price on shares of AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Weiss Ratings upgraded AppLovin from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 8th. Finally, Benchmark reaffirmed a "buy" rating on shares of AppLovin in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $668.45.

About AppLovin

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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