Integrated Financial Solutions Inc. Purchases 3,218 Shares of AppLovin Corporation $APP

Key Points

• Integrated Financial Solutions raised its stake in AppLovin by 73.8%, buying 3,218 shares to hold 7,578 shares worth about $5.106 million, representing roughly 3.4% of its portfolio and the firm's sixth-largest position.
• Large insider selling occurred this quarter: CTO Vasily Shikin sold 5,231 shares (avg $477.47) and Director Eduardo Vivas sold 163,910 shares (avg $453.49); insiders offloaded a total of 365,244 shares worth about $169.6 million, leaving insiders with 13.66% ownership.
• Analysts maintain a "Moderate Buy" consensus with an average target of about $669; AppLovin recently beat quarterly EPS and revenue estimates (EPS $3.24, revenue $1.66B) but the stock remains volatile with a 52-week range of $222.02–$745.61.

Integrated Financial Solutions Inc. increased its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 73.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,578 shares of the company's stock after acquiring an additional 3,218 shares during the period. AppLovin makes up about 3.4% of Integrated Financial Solutions Inc.'s investment portfolio, making the stock its 6th biggest position. Integrated Financial Solutions Inc.'s holdings in AppLovin were worth $5,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the 4th quarter worth approximately $27,000. Chilton Capital Management LLC acquired a new stake in shares of AppLovin in the 3rd quarter worth approximately $29,000. Activest Wealth Management grew its holdings in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after buying an additional 38 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in AppLovin during the 3rd quarter valued at $33,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in 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 buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 5,231 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares in the company, valued at $14,638,275.26. This trade represents a 14.58% 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 link. Also, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock worth $169,584,607 over the last quarter. 13.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent research reports. Scotiabank upped their price objective on AppLovin from $750.00 to $775.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Wells Fargo & Company increased their price objective on AppLovin from $543.00 to $560.00 and gave the company an "overweight" rating in a research note on Monday, April 6th. Oppenheimer decreased their price objective on AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a research note on Thursday, March 5th. Jefferies Financial Group decreased their price objective on AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Finally, UBS Group set a $740.00 price objective on AppLovin in a research note on Thursday, February 12th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $669.05.

AppLovin Price Performance

APP stock opened at $391.45 on Friday. AppLovin Corporation has a 52-week low of $222.02 and a 52-week high of $745.61. The stock's fifty day simple moving average is $426.55 and its 200-day simple moving average is $554.45. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $132.03 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 0.68 and a beta of 2.50.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The business's revenue was up 66.0% on a year-over-year basis. Equities research analysts expect that AppLovin Corporation will post 6.87 EPS for the current 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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.