Assetmark Inc. Has $16.50 Million Holdings in AppLovin Corporation $APP

Key Points

• Assetmark Inc. raised its stake in AppLovin by 12% in Q4 to 24,485 shares, valued at about $16.5 million per its SEC filing.
• Wall Street sentiment is broadly positive — AppLovin has a consensus rating of "Moderate Buy" with an average price target of $661.95 (analyst targets range roughly $520–$720).
• AppLovin beat Q4 estimates (EPS $3.24 vs $2.89; revenue $1.66B vs $1.61B, up 66% YoY), but insiders have sold heavily recently — 365,244 shares worth about $169.6 million in the last 90 days.

Assetmark Inc. lifted its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,485 shares of the company's stock after purchasing an additional 2,615 shares during the quarter. Assetmark Inc.'s holdings in AppLovin were worth $16,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in AppLovin in the 3rd quarter valued at $29,000. Board of the Pension Protection Fund bought a new stake in shares of AppLovin during the fourth quarter worth $27,000. Activest Wealth Management raised its position in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company's stock worth $31,000 after acquiring an additional 38 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new stake in shares of AppLovin during the third quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of AppLovin by 58.6% during 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. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $700.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Jefferies Financial Group reduced their price objective on AppLovin from $860.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Argus initiated coverage on AppLovin in a research report on Tuesday. They set a "buy" rating and a $520.00 price objective for the company. Morgan Stanley set a $720.00 price objective on AppLovin in a research report on Thursday, February 12th. Finally, Citigroup reduced their price objective on AppLovin from $820.00 to $710.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $661.95.

AppLovin Trading Up 0.3%

Shares of AppLovin stock opened at $466.09 on Friday. The company has a market capitalization of $157.20 billion, a price-to-earnings ratio of 47.80, a PEG ratio of 0.81 and a beta of 2.50. 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 Corporation has a 12-month low of $222.02 and a 12-month high of $745.61. The firm's 50-day moving average price is $428.03 and its two-hundred day moving average price is $549.42.

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

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares of the company's stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 40,704 shares of AppLovin stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the transaction, the chief executive officer directly owned 2,430,414 shares of the company's stock, valued at approximately $1,117,625,877.90. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

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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