CWA Asset Management Group LLC Acquires 2,455 Shares of AppLovin Corporation (NASDAQ:APP)

CWA Asset Management Group LLC raised its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,223 shares of the company's stock after buying an additional 2,455 shares during the quarter. CWA Asset Management Group LLC's holdings in AppLovin were worth $5,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. SVB Wealth LLC bought a new stake in AppLovin during the 4th quarter valued at $1,781,922,000. Geode Capital Management LLC boosted its stake in AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after purchasing an additional 573,310 shares during the last quarter. Invesco Ltd. raised its stake in shares of AppLovin by 68.0% in the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after purchasing an additional 1,222,074 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 33,700 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the transaction, the chief executive officer now owns 2,760,363 shares in the company, valued at $1,009,023,091.02. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the completion of the sale, the insider now owns 357,903 shares in the company, valued at approximately $132,506,427.69. This trade represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. FBN Securities began coverage on AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Loop Capital restated a "buy" rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. UBS Group lifted their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Benchmark reissued a "buy" rating and issued a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $438.10.

AppLovin Price Performance

Shares of APP traded down $16.08 during midday trading on Thursday, reaching $344.37. The stock had a trading volume of 5,806,553 shares, compared to its average volume of 6,117,065. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $116.53 billion, a price-to-earnings ratio of 62.16, a price-to-earnings-growth ratio of 2.00 and a beta of 2.53. The company's 50-day moving average is $331.71 and its 200 day moving average is $334.73. 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 issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. AppLovin's revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 earnings per share. On average, equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

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.