IPG Investment Advisors LLC Makes New Investment in AppLovin Corporation $APP

Key Points

• IPG Investment Advisors opened a new position in AppLovin, buying 2,318 shares valued at about $1.56 million in the fourth quarter.
• AppLovin’s latest quarterly results beat expectations, with EPS of $3.56 and revenue of $1.84 billion, both above analyst forecasts. Revenue also rose 58.9% year over year.
• Analyst sentiment remains broadly positive: Wells Fargo raised its target to $571, while MarketBeat data shows a Moderate Buy consensus and a $664.35 average price target. However, insider selling has been notable, including recent sales by the CEO and a director.

IPG Investment Advisors LLC bought a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,318 shares of the company's stock, valued at approximately $1,562,000.

Several other institutional investors and hedge funds have also made changes to their positions in APP. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. lifted its holdings in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of AppLovin in the 3rd quarter valued at about $29,000. Activest Wealth Management lifted its holdings in shares of AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after purchasing an additional 38 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at about $32,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of APP stock opened at $567.83 on Thursday. The stock has a market capitalization of $190.76 billion, a PE ratio of 48.78, a price-to-earnings-growth ratio of 0.84 and a beta of 2.37. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The stock's 50-day moving average price is $450.35 and its 200 day moving average price is $521.20. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

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

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and a $720 price target on AppLovin, helping push the stock sharply higher as investors reacted to the upgraded bullish tone. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Reports also said Meta Platforms is not expected to bid on certain mobile ad traffic, which could leave more market share and pricing opportunity for AppLovin in mobile advertising. AppLovin (APP) Stock Trades Up, Here Is Why
• Neutral Sentiment: Additional market chatter highlighted AppLovin as one of the stocks making big moves and one of the day’s top performers, reinforcing the momentum behind the shares. Stocks making big moves yesterday: Allient, AutoZone, Redwire, Marvell Technology, and AppLovin
• Negative Sentiment: AppLovin CTO Vasily Shikin disclosed multiple stock sales totaling tens of thousands of shares at prices around the mid-$480s, trimming his holdings by a meaningful amount; insider selling can sometimes weigh on sentiment. Vasily Shikin insider transaction filings

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the business'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. The trade was a 2.30% 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 in the last quarter. Company insiders own 13.66% of the company's stock.

Analysts Set New Price Targets

APP has been the subject of several research reports. Wells Fargo & Company boosted their target price on AppLovin from $560.00 to $571.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Zacks Research downgraded AppLovin from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. Evercore reissued a "buy" rating on shares of AppLovin in a report on Friday, January 30th. Arete Research set a $340.00 target price on AppLovin and gave the company a "neutral" rating in a report on Monday, March 2nd. Finally, Weiss Ratings downgraded AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $664.35.

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.

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.