Fiducient Advisors LLC Buys New Position in AppLovin Corporation $APP

Key Points

• Fiducient Advisors LLC initiated a new position in AppLovin during the fourth quarter, buying 2,630 shares valued at about $1.77 million.
• AppLovin reported strong first-quarter results, with earnings of $3.56 per share and revenue of $1.84 billion, both ahead of expectations. Revenue also rose 58.9% year over year.
• Wall Street remains broadly bullish on the stock, with several analysts reiterating or raising targets, including Morgan Stanley at $720 and Needham at $700. The consensus rating is Moderate Buy with an average target price of $664.35.

Fiducient Advisors LLC bought a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,630 shares of the company's stock, valued at approximately $1,772,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CBIZ Investment Advisory Services LLC boosted its position in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company's stock valued at $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Claro Advisors LLC boosted its position in shares of AppLovin by 3.2% during the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company's stock valued at $465,000 after purchasing an additional 20 shares in the last quarter. Finally, Strategic Advocates LLC boosted its position in shares of AppLovin by 0.8% during the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company's stock valued at $1,851,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Up 5.6%

APP stock opened at $599.89 on Friday. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock's 50 day moving average is $453.17 and its 200-day moving average is $521.05. The firm has a market capitalization of $201.53 billion, a PE ratio of 51.54, a P/E/G ratio of 0.92 and a beta of 2.37.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company earned $1.67 earnings per share. The company's revenue for the quarter was up 58.9% on a year-over-year basis. Sell-side analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Argus assumed 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. JPMorgan Chase & Co. increased their price target on AppLovin from $500.00 to $515.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Wedbush reiterated an "outperform" rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. Finally, Evercore reiterated a "buy" rating on shares of AppLovin in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $664.35.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

Insider Activity

In other news, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 454,964 shares of company stock worth $213,046,785 over the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

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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