Cozad Asset Management Inc. Buys 3,837 Shares of AppLovin Corporation (NASDAQ:APP)

Key Points

• Cozad Asset Management Inc. increased its holdings in AppLovin Corporation by 10.3%, acquiring an additional 3,837 shares, bringing its total to 40,933 shares worth approximately $10.8 million.
• Institutional investors now own 41.85% of AppLovin's stock, with notable increases from firms like FMR LLC and Invesco Ltd. during recent quarters.
• AppLovin reported a strong earnings performance, with an EPS of $1.67, surpassing estimates, and a revenue increase of 40.3% compared to the same quarter last year.

Cozad Asset Management Inc. raised its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,933 shares of the company's stock after purchasing an additional 3,837 shares during the period. AppLovin accounts for 1.1% of Cozad Asset Management Inc.'s portfolio, making the stock its 25th largest holding. Cozad Asset Management Inc.'s holdings in AppLovin were worth $10,846,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Kingswood Wealth Advisors LLC lifted its position in AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after purchasing an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after purchasing an additional 66,453 shares during the period. Yousif Capital Management LLC lifted its position in AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after purchasing an additional 119 shares during the period. Peak Retirement Planning Inc. bought a new position in AppLovin in the fourth quarter worth $969,000. Finally, Assenagon Asset Management S.A. lifted its position in AppLovin by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Down 2.9%

NASDAQ APP traded down $11.42 during trading on Friday, hitting $379.29. The stock had a trading volume of 5,101,545 shares, compared to its average volume of 7,094,436. The company has a market capitalization of $128.35 billion, a PE ratio of 68.50, a P/E/G ratio of 2.16 and a beta of 2.42. The company's 50-day moving average price is $362.95 and its two-hundred day moving average price is $337.13. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The business's quarterly revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the transaction, the director owned 3,451 shares in the company, valued at $1,450,455.30. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the transaction, the chief technology officer owned 70,889 shares in the company, valued at $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Insiders own 13.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APP shares. Benchmark reaffirmed a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. BTIG Research lifted their price objective on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Oppenheimer reissued an "outperform" rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Wells Fargo & Company lifted their price objective on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and an average target price of $447.57.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.