CSM Advisors LLC Takes Position in AppLovin Corporation $APP

Key Points

• CSM Advisors established a new stake in AppLovin, buying 2,995 shares in Q3 worth about $2.15 million.
• Insiders have been net sellers recently — 188,033 shares sold in the past 90 days totaling roughly $90.66 million — leaving insiders with 13.66% ownership of the company.
• AppLovin beat estimates with Q4 EPS $3.24 (vs. $2.89 expected) and revenue up 66% to $1.66 billion, and analysts hold a consensus "Moderate Buy" rating with a $654.50 price target.

CSM Advisors LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,995 shares of the company's stock, valued at approximately $2,153,000.

A number of other large investors have also added to or reduced their stakes in APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin during the 4th quarter valued at $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter valued at $239,000. Integrated Wealth Concepts LLC raised its position in shares of AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock valued at $448,000 after purchasing an additional 621 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of AppLovin by 5.7% during the 2nd quarter. Foundations Investment Advisors LLC now owns 7,122 shares of the company's stock worth $2,493,000 after buying an additional 385 shares during the last quarter. Finally, Empower Advisory Group LLC acquired a new stake in shares of AppLovin during the 2nd quarter worth about $273,000. Institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 5,231 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares of the company's stock, valued at $14,638,275.26. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the firm's stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the transaction, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 188,033 shares of company stock worth $90,662,374. Company insiders own 13.66% of the company's stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $453.30 on Tuesday. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The company has a 50-day simple moving average of $490.72 and a two-hundred day simple moving average of $574.61. The stock has a market capitalization of $152.89 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 0.81 and a beta of 2.51.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The business's revenue was up 66.0% compared to the same quarter last year. Analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on shares of AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Weiss Ratings downgraded shares of AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Scotiabank boosted their price objective on AppLovin from $750.00 to $775.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Zacks Research downgraded AppLovin from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Finally, Arete Research set a $340.00 price target on AppLovin and gave the stock a "neutral" rating in a report on Monday, March 2nd. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $654.50.

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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