Whalen Wealth Management Inc. Raises Position in AppLovin Corporation (NASDAQ:APP)

Whalen Wealth Management Inc. raised its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 114.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,896 shares of the company's stock after acquiring an additional 1,012 shares during the quarter. Whalen Wealth Management Inc.'s holdings in AppLovin were worth $502,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC purchased a new stake in AppLovin during the fourth quarter valued at about $1,781,922,000. Geode Capital Management LLC increased its position in AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after purchasing an additional 573,310 shares in the last quarter. Invesco Ltd. increased its position in shares of AppLovin by 68.0% in the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after acquiring an additional 1,222,074 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after purchasing an additional 2,373,885 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on APP shares. FBN Securities assumed coverage on shares of AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price on the stock. Jefferies Financial Group increased their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. UBS Group boosted their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Benchmark reissued a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group upped their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $438.10.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $324.70 on Monday. The company has a market capitalization of $109.88 billion, a P/E ratio of 58.61, a price-to-earnings-growth ratio of 1.89 and a beta of 2.53. The business's 50-day moving average price is $333.20 and its two-hundred day moving average price is $333.86. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The company's revenue was up 40.3% compared to the same quarter last year. Analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Craig Scott Billings sold 12,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $353.12, for a total value of $4,237,440.00. Following the sale, the director now owns 2,987 shares of the company's stock, valued at $1,054,769.44. The trade was a 80.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Barbara Messing sold 1,500 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the sale, the director now owns 9,510 shares in the company, valued at $3,637,194.60. This represents a 13.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by company insiders.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.

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