AppLovin Corporation $APP Shares Bought by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its AppLovin stake by 674.7% in the first quarter, owning 11,117 shares valued at approximately $4.4 million. Other institutional investors also raised their positions, and institutions collectively own 41.85% of the company.
• AppLovin reported strong quarterly results, with EPS of $3.56 and revenue of $1.84 billion, surpassing estimates and representing 58.9% year-over-year revenue growth.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $668.45, although insiders sold roughly $197.3 million of shares over the past 90 days.

Arkadios Wealth Advisors raised its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 674.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,117 shares of the company's stock after purchasing an additional 9,682 shares during the quarter. Arkadios Wealth Advisors' holdings in AppLovin were worth $4,424,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. South Dakota Investment Council purchased a new position in shares of AppLovin during the first quarter worth $1,003,000. Altshuler Shaham Ltd raised its holdings in shares of AppLovin by 11,487.5% in the 1st quarter. Altshuler Shaham Ltd now owns 127,810 shares of the company's stock valued at $50,868,000 after buying an additional 126,707 shares during the period. Smith Group Asset Management LLC raised its holdings in shares of AppLovin by 7.8% in the 1st quarter. Smith Group Asset Management LLC now owns 99,195 shares of the company's stock valued at $39,480,000 after buying an additional 7,156 shares during the period. Spyglass Capital Management LLC lifted its stake in AppLovin by 38.1% during the 1st quarter. Spyglass Capital Management LLC now owns 166,557 shares of the company's stock worth $66,290,000 after acquiring an additional 45,919 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in AppLovin by 3.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock worth $347,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Price Performance

APP stock opened at $395.90 on Friday. The business's 50-day moving average is $491.19 and its two-hundred day moving average is $472.27. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market capitalization of $133.00 billion, a P/E ratio of 34.01, a P/E/G ratio of 0.66 and a beta of 2.49. AppLovin Corporation has a 1 year low of $359.00 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The business's revenue for the quarter was up 58.9% on a year-over-year basis. Analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APP shares. Wedbush restated an "outperform" rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Benchmark reiterated a "buy" rating on shares of AppLovin in a research note on Wednesday, June 10th. Piper Sandler reissued an "overweight" rating on shares of AppLovin in a research report on Tuesday, July 7th. Needham & Company LLC reissued a "buy" rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 28th. Finally, Weiss Ratings cut shares of AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $668.45.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company's stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the transaction, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 393,000 shares of company stock valued at $197,297,363 in the last 90 days. Company insiders own 12.81% 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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