Wealthfront Advisers LLC Acquires 4,244 Shares of AppLovin Corporation $APP

Key Points

• Wealthfront Advisers LLC boosted its AppLovin stake by 12.8%, buying 4,244 shares to hold 37,516 shares worth about $25.28 million at the end of the quarter.
• Insiders have been net sellers recently — CEO Arash Foroughi sold 50,000 shares and Director Eduardo Vivas sold 163,910 shares — with insiders unloading 365,244 shares (≈$169.6M) over the last 90 days, though insiders still own 13.66% of the company.
• Analysts maintain a consensus "Moderate Buy" with a $673.25 price target; AppLovin also posted a quarterly beat (EPS $3.24 vs. $2.89) and 66% revenue growth, while the stock trades near $460 versus a 200-day average of $538.41.

Wealthfront Advisers LLC boosted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,516 shares of the company's stock after acquiring an additional 4,244 shares during the quarter. Wealthfront Advisers LLC's holdings in AppLovin were worth $25,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company's stock valued at $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp boosted its position in AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company's stock valued at $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Invesco Ltd. boosted its position in AppLovin by 9.4% in the third quarter. Invesco Ltd. now owns 4,292,752 shares of the company's stock valued at $3,084,514,000 after buying an additional 367,083 shares in the last quarter. Jennison Associates LLC boosted its position in AppLovin by 55.2% in the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company's stock valued at $2,792,355,000 after buying an additional 1,381,970 shares in the last quarter. Finally, Kensico Capital Management Corp raised its position in AppLovin by 3.1% in the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company's stock valued at $2,240,767,000 after purchasing an additional 95,000 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 365,244 shares of company stock worth $169,584,607 over the last ninety days. Company insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Zacks Research lowered AppLovin from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Weiss Ratings lowered AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, March 10th. UBS Group set a $740.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Needham & Company LLC reiterated a "buy" rating and set a $700.00 target price on shares of AppLovin in a research report on Wednesday, March 11th. Finally, Oppenheimer reduced their target price on shares of 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 assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $673.25.

AppLovin Price Performance

Shares of APP stock opened at $460.29 on Tuesday. AppLovin Corporation has a 1 year low of $246.00 and a 1 year high of $745.61. The firm's 50 day moving average is $434.85 and its 200-day moving average is $538.41. The firm has a market capitalization of $155.25 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 0.78 and a beta of 2.50. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65.

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