WD Rutherford LLC Grows Stake in AppLovin Corporation $APP

Key Points

• WD Rutherford LLC increased its AppLovin stake by 53.0% in the fourth quarter, bringing its holdings to 5,863 shares worth about $3.95 million.
• AppLovin reported strong quarterly results, with EPS of $3.56 beating estimates and revenue of $1.84 billion topping expectations; revenue also jumped 58.9% year over year.
• Insider selling has been significant, including sales by CTO Vasily Shikin and Director Eduardo Vivas, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $664.35.

WD Rutherford LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 53.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,863 shares of the company's stock after purchasing an additional 2,031 shares during the period. AppLovin comprises 1.7% of WD Rutherford LLC's investment portfolio, making the stock its 28th biggest position. WD Rutherford LLC's holdings in AppLovin were worth $3,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mediolanum International Funds Ltd lifted its stake in AppLovin by 73.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company's stock worth $54,664,000 after purchasing an additional 32,510 shares in the last quarter. Allworth Financial LP lifted its position in AppLovin by 131.7% during the third quarter. Allworth Financial LP now owns 6,049 shares of the company's stock valued at $4,347,000 after acquiring an additional 3,438 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of AppLovin by 14.8% in the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company's stock worth $84,160,000 after buying an additional 15,074 shares in the last quarter. APG Asset Management N.V. purchased a new position in shares of AppLovin in the third quarter worth about $4,958,000. Finally, Trek Financial LLC grew its holdings in AppLovin by 851.6% during the 3rd quarter. Trek Financial LLC now owns 9,630 shares of the company's stock worth $6,920,000 after acquiring an additional 8,618 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

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

AppLovin Price Performance

Shares of NASDAQ APP opened at $501.00 on Monday. The stock has a market capitalization of $168.31 billion, a PE ratio of 43.04, a P/E/G ratio of 0.81 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The business has a fifty day moving average price of $447.26 and a two-hundred day moving average price of $528.32. 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 the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company's quarterly revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 EPS. As a group, equities analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on APP shares. Royal Bank Of Canada restated an "outperform" rating and set a $700.00 target price on shares of AppLovin in a report on Thursday, February 12th. Evercore restated a "buy" rating on shares of AppLovin in a report on Friday, January 30th. BTIG Research restated a "buy" rating and set a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Argus started coverage on AppLovin in a research report on Tuesday, April 14th. They set a "buy" rating and a $520.00 target price for the company. Finally, Piper Sandler upped 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $664.35.

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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