Leonteq Securities AG Makes New Investment in AppLovin Corporation $APP

Key Points

• Leonteq Securities AG opened a new position in AppLovin during the fourth quarter, buying 2,983 shares worth about $2.01 million.
• AppLovin’s latest earnings beat expectations, with EPS of $3.56 versus $3.44 expected and revenue of $1.84 billion, up 58.9% year over year.
• Despite strong results, insiders have been selling shares recently, including CEO Arash Adam Foroughi and CTO Vasily Shikin, while analysts currently rate the stock Moderate Buy with a consensus target price of $664.35.

Leonteq Securities AG acquired a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,983 shares of the company's stock, valued at approximately $2,010,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APP. Board of the Pension Protection Fund purchased a new position in shares of AppLovin during the 4th quarter valued at approximately $27,000. Washington Trust Advisors Inc. lifted its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after buying an additional 24 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of AppLovin during the 3rd quarter valued at approximately $29,000. Activest Wealth Management lifted its position in shares of 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 in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of the firm's stock in a transaction on 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 approximately $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 365,244 shares of company stock worth $169,584,607. Corporate insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APP. Weiss Ratings lowered AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. The Goldman Sachs Group decreased their target price on AppLovin from $710.00 to $585.00 and set a "neutral" rating on the stock in a research report on Thursday, February 12th. Piper Sandler increased their target price on AppLovin from $650.00 to $665.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Scotiabank increased their target price on AppLovin from $750.00 to $775.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Finally, Arete Research set a $340.00 target price on AppLovin and gave the company a "neutral" rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $664.35.

AppLovin Trading Up 1.1%

Shares of APP stock opened at $482.28 on Thursday. The stock's fifty day moving average is $445.73 and its two-hundred day moving average is $525.32. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $162.02 billion, a P/E ratio of 41.43, a PEG ratio of 0.78 and a beta of 2.37. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $1.67 EPS. Research analysts expect that AppLovin Corporation will post 15.86 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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