Inspire Investing LLC Has $7.22 Million Position in AppLovin Corporation $APP

Key Points

• Inspire Investing LLC cut its AppLovin stake by 28.8% in the fourth quarter, but still held 10,720 shares worth about $7.22 million, making APP its 20th-largest position.
• Insiders have been selling shares, including CTO Vasily Shikin and insider Victoria Valenzuela, with total insider sales reaching 226,014 shares worth about $113.1 million over the last three months.
• Wall Street remains constructive on AppLovin, with multiple analysts reiterating buy/overweight ratings and a consensus price target of $669.62, while the stock recently traded down to $479.49 after strong quarterly results.

Inspire Investing LLC reduced its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 28.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,720 shares of the company's stock after selling 4,340 shares during the period. AppLovin makes up about 0.6% of Inspire Investing LLC's investment portfolio, making the stock its 20th biggest position. Inspire Investing LLC's holdings in AppLovin were worth $7,223,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Allworth Financial LP raised its holdings in AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company's stock worth $4,347,000 after purchasing an additional 3,438 shares during the period. APG Asset Management N.V. acquired a new stake in AppLovin in the third quarter worth $4,958,000. Franklin Resources Inc. raised its holdings in AppLovin by 24.9% in the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company's stock worth $1,754,996,000 after purchasing an additional 487,492 shares during the period. TIAA Trust National Association raised its holdings in AppLovin by 431.7% in the third quarter. TIAA Trust National Association now owns 52,749 shares of the company's stock worth $37,902,000 after purchasing an additional 42,829 shares during the period. Finally, Generate Investment Management Ltd acquired a new stake in AppLovin in the fourth quarter worth $2,347,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer owned 3,189,739 shares of the company's stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares of the company's stock, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,014 shares of company stock worth $113,073,400 in the last three months. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APP. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Piper Sandler reiterated an "overweight" rating on shares of AppLovin in a research report on Tuesday, June 9th. KeyCorp set a $775.00 price objective on AppLovin in a research report on Wednesday, June 10th. BTIG Research reiterated a "buy" rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, Oppenheimer dropped their price objective on shares of AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $669.62.

AppLovin Stock Down 6.9%

AppLovin stock opened at $479.49 on Thursday. The company has a market cap of $161.08 billion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 0.84 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 company has a fifty day simple moving average of $489.48 and a 200 day simple moving average of $519.07. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP - Get Free Report) last released 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. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm's revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 earnings per share. Research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share 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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