DB&C Advisors LLC Makes New $1.68 Million Investment in AppLovin Corporation $APP

Key Points

• DB&C Advisors LLC opened a new position in AppLovin during the fourth quarter, buying 2,487 shares valued at about $1.68 million. The stock now accounts for roughly 2.1% of the firm’s portfolio.
• AppLovin’s latest quarterly results beat Wall Street expectations, with earnings of $3.56 per share and revenue of $1.84 billion. Revenue jumped 58.9% year over year, and analysts expect full-year EPS of 15.86.
• Despite some recent insider selling, the broader market remains constructive on the stock: analysts have a Moderate Buy consensus rating and a target price of $664.35. AppLovin shares were down slightly in Friday trading after opening at $557.20.

DB&C Advisors LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,487 shares of the company's stock, valued at approximately $1,676,000. AppLovin makes up about 2.1% of DB&C Advisors LLC's investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company's stock worth $16,926,746,000 after purchasing an additional 166,117 shares in the last quarter. State Street Corp lifted its stake in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company's stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company's stock worth $4,817,269,000 after purchasing an additional 448,005 shares in the last quarter. Invesco Ltd. lifted its stake in shares of AppLovin by 9.4% during the third quarter. Invesco Ltd. now owns 4,292,752 shares of the company's stock worth $3,084,514,000 after purchasing an additional 367,083 shares in the last quarter. Finally, Kensico Capital Management Corp increased its position in shares of AppLovin by 3.1% during the third quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company's stock worth $2,240,767,000 after acquiring an additional 95,000 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Down 0.3%

Shares of NASDAQ APP opened at $557.20 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The stock's 50-day simple moving average is $470.43 and its 200-day simple moving average is $521.43.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin's quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 earnings per share. As a group, equities analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APP. Argus began coverage on AppLovin in a research report on Tuesday, April 14th. They set a "buy" rating and a $520.00 target price on the stock. BTIG Research reaffirmed a "buy" rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Benchmark reaffirmed a "buy" rating on shares of AppLovin in a research report on Friday, March 6th. UBS Group dropped their target price on AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Finally, Piper Sandler lifted their target price on AppLovin from $650.00 to $665.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus target price of $664.35.

Insider Transactions at AppLovin

In related news, CFO Matthew Stumpf sold 9,052 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares of the company's stock, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the sale, the chief executive officer directly owned 2,430,414 shares of the company's stock, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 467,092 shares of company stock valued at $220,268,340 over the last 90 days. Corporate insiders own 13.66% of the company's stock.

AppLovin Company 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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