Kestra Private Wealth Services LLC Purchases 3,579 Shares of AppLovin Corporation $APP

Key Points

• Kestra Private Wealth Services LLC boosted its stake in AppLovin by 65.7% in Q4, purchasing 3,579 shares to hold 9,024 shares valued at about $6.081 million.
• Significant insider selling occurred recently: Director Eduardo Vivas sold 163,910 shares (~$74.33M) and the CTO sold 5,231 shares, with insiders offloading 365,244 shares worth $169.6M in the last three months (insiders now own 13.66%).
• AppLovin recently beat quarterly estimates (EPS $3.24 vs. $2.89; revenue $1.66B) and has a consensus analyst rating of "Moderate Buy" with a consensus target price of $673.25.

Kestra Private Wealth Services LLC boosted its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 65.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,024 shares of the company's stock after purchasing an additional 3,579 shares during the period. Kestra Private Wealth Services LLC's holdings in AppLovin were worth $6,081,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin during the 4th quarter worth about $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin during the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC raised its holdings in shares of AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock valued at $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC raised its holdings in shares of AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock valued at $5,084,000 after purchasing an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AppLovin by 7.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock valued at $48,727,000 after purchasing an additional 9,380 shares during the period. Institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. Benchmark reiterated a "buy" rating on shares of AppLovin in a research note on Friday, March 6th. Needham & Company LLC reissued a "buy" rating and issued a $700.00 price objective on shares of AppLovin in a report on Wednesday, March 11th. Oppenheimer cut their price objective on shares of AppLovin from $740.00 to $660.00 and set an "outperform" rating for the company in a report on Thursday, March 5th. The Goldman Sachs Group cut their price objective on shares of AppLovin from $710.00 to $585.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Finally, Arete Research set a $340.00 target price on shares of AppLovin and gave the company a "neutral" rating in a research report on Monday, March 2nd. One 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 data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus target price of $673.25.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the 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 completion of the sale, the director directly owned 6,969,382 shares of the company's stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 5,231 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the completion of the sale, the chief technology officer directly owned 30,658 shares of the company's stock, valued at $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is owned by insiders.

AppLovin Price Performance

Shares of APP opened at $449.03 on Wednesday. The stock has a market cap of $151.45 billion, a P/E ratio of 46.05, a P/E/G ratio of 0.80 and a beta of 2.50. The business's fifty day moving average is $436.30 and its 200 day moving average is $537.55. AppLovin Corporation has a 12-month low of $246.00 and a 12-month high of $745.61. 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 released its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin's quarterly revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 EPS. Sell-side analysts anticipate that AppLovin Corporation will post 15.72 earnings per share for the current fiscal year.

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.

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