Highland Capital Management LLC Invests $1.64 Million in AppLovin Corporation $APP

Key Points

• Highland Capital Management opened a new position in AppLovin in Q4, buying 2,431 shares worth about $1.64 million, while institutional investors collectively own roughly 41.85% of the company.
• Insiders have sold 365,244 shares worth approximately $169.6 million in the last three months — notably Director Eduardo Vivas (163,910 shares, ~$74.33M) and CEO Arash Foroughi (50,000 shares, ~$23.30M) — leaving insiders with about 13.66% ownership.
• AppLovin beat earnings and revenue (Q: EPS $3.24 vs. $2.89 est.; revenue $1.66B, +66% y/y), the stock trades near $478, and analysts have a consensus "Moderate Buy" with an average target of $672.05.

Highland Capital Management LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,431 shares of the company's stock, valued at approximately $1,638,000.

Other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC purchased a new stake in shares of AppLovin during the 3rd quarter worth about $29,000. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin during the 4th quarter worth about $27,000. Activest Wealth Management grew its holdings in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company's stock worth $31,000 after purchasing an additional 38 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Finally, Bogart Wealth LLC lifted its position in AppLovin by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 48 shares of the company's stock worth $34,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the company'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 directly owned 6,969,382 shares of the company's stock, valued at $3,160,545,043.18. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 in the last three months. Corporate insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

APP has been the topic of several recent research reports. Evercore reissued a "buy" rating on shares of AppLovin in a research report on Friday, January 30th. UBS Group reduced their price target on AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a research report on Tuesday. Morgan Stanley set a $720.00 price target on AppLovin in a research report on Thursday, February 12th. Piper Sandler reissued an "overweight" rating and set a $650.00 price target (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Finally, Oppenheimer reduced their price target on AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a research report on Thursday, March 5th. 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $672.05.

AppLovin Stock Performance

Shares of APP opened at $478.11 on Wednesday. The business's 50 day moving average is $438.96 and its two-hundred day moving average is $534.64. AppLovin Corporation has a 52-week low of $290.96 and a 52-week high of $745.61. The firm has a market cap of $161.26 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 0.83 and a beta of 2.37. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65.

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, beating analysts' consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the company posted $1.73 EPS. AppLovin's quarterly revenue was up 66.0% on a year-over-year basis. Analysts forecast that AppLovin Corporation will post 15.72 EPS for the current fiscal year.

About AppLovin

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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