Sanctuary Advisors LLC Purchases 6,071 Shares of AppLovin Corporation $APP

Key Points

• Sanctuary Advisors LLC increased its stake in AppLovin by 20.3%, buying 6,071 shares to hold 36,030 shares valued at about $24.28 million, and institutional investors now own roughly 41.85% of the company.
• AppLovin reported a strong quarter with $3.24 EPS (vs. $2.89 expected) and revenue of $1.66 billion, up 66% year‑over‑year; the stock carries a market cap of about $151.2 billion and an average analyst price target of $673.25 (Moderate Buy).
• Company insiders have sold 365,244 shares worth about $169.6 million in the last 90 days (including large sales by the CTO and a director), although insiders still own about 13.66% of the stock.

Sanctuary Advisors LLC grew its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,030 shares of the company's stock after purchasing an additional 6,071 shares during the period. Sanctuary Advisors LLC's holdings in AppLovin were worth $24,278,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC bought a new stake in AppLovin during the fourth quarter worth about $294,000. Bison Wealth LLC purchased a new position in shares of AppLovin in the fourth quarter worth about $239,000. Integrated Wealth Concepts LLC increased its holdings in shares of AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock worth $448,000 after buying an additional 621 shares during the period. NewEdge Advisors LLC increased its holdings in shares of AppLovin by 5.7% in the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock worth $5,084,000 after buying an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock worth $48,727,000 after buying an additional 9,380 shares during the period. Institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $448.29 on Monday. AppLovin Corporation has a 1 year low of $246.00 and a 1 year high of $745.61. The company has a market cap of $151.20 billion, a PE ratio of 45.98, a P/E/G ratio of 0.78 and a beta of 2.50. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The stock's 50-day moving average is $433.47 and its 200 day moving average is $539.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business earned $1.73 EPS. AppLovin's revenue was up 66.0% compared to the same quarter last year. Sell-side analysts anticipate that AppLovin Corporation will post 15.72 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of several analyst reports. Argus initiated coverage on AppLovin in a report on Tuesday, April 14th. They issued a "buy" rating and a $520.00 price objective on the stock. Citigroup decreased their price objective on AppLovin from $820.00 to $710.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Oppenheimer decreased their price objective on AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. Piper Sandler reiterated an "overweight" rating and issued a $650.00 price objective (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Finally, Wedbush lifted their price objective on AppLovin from $465.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $673.25.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eduardo Vivas sold 163,910 shares of the business's stock in a transaction dated Monday, March 16th. The shares were 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 approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 in the last 90 days. Company insiders own 13.66% of the company's stock.

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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