Kesler Norman & Wride LLC Takes Position in AppLovin Corporation $APP

Key Points

• Kesler Norman & Wride LLC opened a new position in AppLovin during the fourth quarter, buying 2,624 shares valued at about $1.77 million.
• AppLovin also saw notable insider selling, including a $74.3 million sale by Director Eduardo Vivas and a smaller sale by CTO Vasily Shikin. Insiders sold 464,016 shares worth roughly $218.5 million over the last quarter.
• Despite the insider sales, analysts remain broadly positive on the stock, with a consensus “Moderate Buy” rating and an average price target of $664.35. The company recently beat earnings expectations, reporting $3.56 EPS and $1.84 billion in quarterly revenue, up 58.9% year over year.

Kesler Norman & Wride LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,624 shares of the company's stock, valued at approximately $1,768,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CBIZ Investment Advisory Services LLC increased its position in shares of AppLovin by 58.6% in the third 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 in the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company's stock valued at $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company's stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Claro Advisors LLC increased its position in shares of AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company's stock worth $465,000 after purchasing an additional 20 shares in the last quarter. Finally, Strategic Advocates LLC increased its position in shares of AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company's stock worth $1,851,000 after purchasing an additional 21 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 163,910 shares of the company'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 transaction, the director 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 this hyperlink. Also, CTO Vasily Shikin sold 2,889 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $488.90, for a total value of $1,412,432.10. Following the completion of the transaction, the chief technology officer directly owned 17,945 shares in the company, valued at approximately $8,773,310.50. This trade represents a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 464,016 shares of company stock valued at $218,477,985 in the last quarter. Corporate insiders own 13.66% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on APP shares. Morgan Stanley reiterated an "overweight" rating on shares of AppLovin in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating and set a $700.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Oppenheimer dropped their price target on AppLovin from $740.00 to $660.00 and set an "outperform" rating for the company in a research report on Thursday, March 5th. Finally, Wedbush reiterated an "outperform" rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $664.35.

AppLovin Stock Down 1.3%

Shares of NASDAQ:APP opened at $605.63 on Wednesday. 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 business has a fifty day moving average of $460.05 and a two-hundred day moving average of $520.92. The stock has a market cap of $203.46 billion, a P/E ratio of 52.03, a PEG ratio of 1.00 and a beta of 2.45. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last issued its 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 company had revenue of $1.84 billion during 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 quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 EPS. On average, research analysts expect that AppLovin Corporation will post 15.86 earnings per share 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.

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