Motley Fool Asset Management LLC Has $21.39 Million Position in AppLovin Corporation $APP

Key Points

• Motley Fool Asset Management increased its AppLovin stake by 36% in the fourth quarter, buying 8,400 more shares and bringing its holdings to 31,738 shares worth about $21.4 million.
• AppLovin reported strong first-quarter results, with EPS of $3.56 beating estimates and revenue of $1.84 billion topping expectations. Revenue rose 58.9% year over year.
• The stock has been active among both analysts and insiders: analysts currently have a Moderate Buy consensus with an average target price of $664.35, while insiders have recently sold shares, including the CTO and CEO.

Motley Fool Asset Management LLC lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,738 shares of the company's stock after purchasing an additional 8,400 shares during the quarter. AppLovin accounts for about 0.8% of Motley Fool Asset Management LLC's portfolio, making the stock its 22nd biggest position. Motley Fool Asset Management LLC's holdings in AppLovin were worth $21,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Stonebrook Private Inc. raised its position in shares of AppLovin by 20.4% during the fourth quarter. Stonebrook Private Inc. now owns 473 shares of the company's stock worth $319,000 after purchasing an additional 80 shares during the period. Westerkirk Capital Inc. raised its position in shares of AppLovin by 42.7% during the fourth quarter. Westerkirk Capital Inc. now owns 8,752 shares of the company's stock worth $5,897,000 after purchasing an additional 2,618 shares during the period. X Square Capital LLC raised its position in shares of AppLovin by 15.1% during the fourth quarter. X Square Capital LLC now owns 2,638 shares of the company's stock worth $1,778,000 after purchasing an additional 347 shares during the period. Cerity Partners LLC raised its position in shares of AppLovin by 2.9% during the fourth quarter. Cerity Partners LLC now owns 22,900 shares of the company's stock worth $15,430,000 after purchasing an additional 640 shares during the period. Finally, West Family Investments Inc. raised its position in shares of AppLovin by 4.0% during the fourth quarter. West Family Investments Inc. now owns 863 shares of the company's stock worth $582,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Down 7.6%

Shares of AppLovin stock opened at $520.84 on Wednesday. The business's 50 day simple moving average is $476.67 and its 200 day simple moving average is $521.50. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The firm has a market cap of $174.97 billion, a PE ratio of 44.75, a P/E/G ratio of 0.92 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. The business 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%.AppLovin's revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 EPS. On average, analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on APP shares. The Goldman Sachs Group dropped their price target on AppLovin from $710.00 to $585.00 and set a "neutral" rating on the stock in a research report on Thursday, February 12th. Scotiabank lifted 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. Weiss Ratings lowered AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. BTIG Research reissued a "buy" rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Finally, Oppenheimer dropped their target price on AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $664.35.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer directly owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This trade represents a 1.93% 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, CEO Arash Adam Foroughi sold 40,704 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the transaction, the chief executive officer owned 2,430,414 shares of the company's stock, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 347,372 shares of company stock valued at $164,641,603. 13.66% of the stock is owned by insiders.

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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