AppLovin Corporation $APP Shares Acquired by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its stake in AppLovin by 108.6% in Q4, buying 5,285 shares to hold 10,152 shares worth about $6.84 million.
• Insiders have been net sellers: Director Eduardo Vivas sold 163,910 shares for roughly $74.33 million, and insiders sold a total of 365,244 shares worth about $169.6 million in the past 90 days (insiders own 13.66%).
• AppLovin beat Q4 expectations with EPS $3.24 (vs. $2.89) and revenue of $1.66B (vs. $1.61B), and analysts hold an average rating of "Moderate Buy" with a consensus target of $673.25.

Concurrent Investment Advisors LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 108.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,152 shares of the company's stock after purchasing an additional 5,285 shares during the quarter. Concurrent Investment Advisors LLC's holdings in AppLovin were worth $6,840,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Board of the Pension Protection Fund acquired a new position in shares of AppLovin during the fourth quarter worth about $27,000. Chilton Capital Management LLC acquired a new stake in AppLovin in the third quarter valued at approximately $29,000. Activest Wealth Management raised its holdings in AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Finally, Bogart Wealth LLC lifted its stake in AppLovin by 100.0% in the third quarter. Bogart Wealth LLC now owns 48 shares of the company's stock worth $34,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on APP shares. Wedbush increased their price objective on shares of AppLovin from $465.00 to $640.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Scotiabank increased their target price on AppLovin from $750.00 to $775.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. The Goldman Sachs Group cut their price target on AppLovin from $710.00 to $585.00 and set a "neutral" rating on the stock in a research note on Thursday, February 12th. Finally, Oppenheimer decreased their price target on AppLovin from $740.00 to $660.00 and set an "outperform" rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus target price of $673.25.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 5,231 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the completion of the sale, the chief technology officer directly owned 30,658 shares of the company's stock, valued at $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 in the last 90 days. 13.66% of the stock is owned by insiders.

AppLovin Stock Performance

NASDAQ:APP opened at $448.29 on Monday. The company has a market capitalization of $151.20 billion, a PE ratio of 45.98, a P/E/G ratio of 0.78 and a beta of 2.50. AppLovin Corporation has a 52-week low of $246.00 and a 52-week high of $745.61. The stock's 50 day moving average price is $433.47 and its 200 day moving average price is $539.39. 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 issued its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm's revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, research analysts anticipate that AppLovin Corporation will post 15.72 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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