AppLovin Corporation $APP Shares Purchased by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management massively increased its AppLovin stake in Q4, buying 6,148 additional shares to reach 6,165 shares valued at about $4.15 million. AppLovin is now its 15th-largest holding.
• Insiders have been selling shares recently, including CEO Arash Adam Foroughi and Director Eduardo Vivas, with total insider sales over the past three months reaching 389,924 shares worth about $195.7 million.
• Analysts remain bullish overall, with a consensus rating of Moderate Buy and an average price target of $669.62. AppLovin also beat expectations in its latest quarter, reporting stronger-than-expected EPS and revenue growth of 58.9% year over year.

Caitong International Asset Management Co. Ltd raised its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 36,164.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,165 shares of the company's stock after purchasing an additional 6,148 shares during the quarter. AppLovin comprises approximately 1.0% of Caitong International Asset Management Co. Ltd's holdings, making the stock its 15th biggest holding. Caitong International Asset Management Co. Ltd's holdings in AppLovin were worth $4,154,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in APP. Redhawk Wealth Advisors Inc. raised its holdings in AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company's stock valued at $431,000 after buying an additional 18 shares during the period. Verdence Capital Advisors LLC raised its position in AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares during the period. Claro Advisors LLC boosted its position in shares of AppLovin by 3.2% in the third 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. Strategic Advocates LLC boosted its position in shares of AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company's stock worth $1,851,000 after buying an additional 21 shares during the period. Finally, Finivi Inc. grew its stake in shares of AppLovin by 3.2% in the fourth quarter. Finivi Inc. now owns 711 shares of the company's stock valued at $479,000 after buying an additional 22 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the company'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 directly owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This represents a 1.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction 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 in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 389,924 shares of company stock worth $195,693,875. Corporate insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on APP. UBS Group reduced their price target on AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Argus assumed coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a "buy" rating and a $520.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $700.00 price target on shares of AppLovin in a report on Thursday, May 28th. Benchmark reaffirmed a "buy" rating on shares of AppLovin in a research note on Wednesday, June 10th. Finally, Morgan Stanley reissued an "overweight" rating on shares of AppLovin in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $669.62.

AppLovin Stock Performance

Shares of APP stock opened at $469.71 on Friday. The stock has a market capitalization of $157.79 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 0.76 and a beta of 2.45. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company's 50-day simple moving average is $492.23 and its 200-day simple moving average is $517.80. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results 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 company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $1.67 EPS. AppLovin's quarterly revenue was up 58.9% compared to the same quarter last year. Equities analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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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