Stephens Inc. AR Sells 3,500 Shares of AppLovin Corporation $APP

Key Points

• Stephens Inc. AR cut its AppLovin stake by 25.7% in the fourth quarter, selling 3,500 shares and leaving it with 10,104 shares valued at about $6.8 million.
• AppLovin reported strong quarterly results, with EPS of $3.56 and revenue of $1.84 billion, both above analyst estimates; revenue jumped 58.9% year over year.
• Analysts remain broadly positive on APP, with a consensus rating of “Moderate Buy” and an average price target of $664.35, even as some insiders recently sold shares.

Stephens Inc. AR decreased its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,104 shares of the company's stock after selling 3,500 shares during the period. Stephens Inc. AR's holdings in AppLovin were worth $6,808,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. grew its holdings in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of AppLovin in the 3rd quarter valued at about $29,000. Activest Wealth Management grew its holdings in shares of AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC bought a new position in shares of AppLovin in the 4th quarter valued at about $32,000. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $501.00 on Monday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The stock has a 50 day moving average of $447.26 and a 200-day moving average of $528.32. The company has a market capitalization of $168.31 billion, a P/E ratio of 43.04, a P/E/G ratio of 0.81 and a beta of 2.37.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business's revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. As a group, equities research analysts predict that AppLovin Corporation will post 15.86 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on APP shares. Piper Sandler lifted their price target on AppLovin from $650.00 to $665.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Arete Research set a $340.00 price objective on AppLovin and gave the company a "neutral" rating in a research note on Monday, March 2nd. Evercore reaffirmed a "buy" rating on shares of AppLovin in a research report on Friday, January 30th. Zacks Research downgraded AppLovin from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $664.35.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the completion of the sale, the chief technology officer directly owned 30,658 shares in the company, valued at $14,638,275.26. This trade represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 40,704 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer owned 2,430,414 shares of the company's stock, valued at $1,117,625,877.90. This trade represents a 1.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 365,244 shares of company stock worth $169,584,607 over the last three months. Insiders own 13.66% of the company's stock.

AppLovin 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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