World Investment Advisors Increases Stock Holdings in AppLovin Corporation $APP

Key Points

• World Investment Advisors increased its AppLovin stake by 261.6% in the fourth quarter, buying 4,071 additional shares and lifting its holding to 5,627 shares worth about $3.79 million.
• Wall Street remains bullish on AppLovin overall, with 17 Buy ratings, one Strong Buy, and a consensus Moderate Buy rating. The average price target stands at $669.62, with some firms issuing targets as high as $775.
• Despite strong earnings and revenue growth, insider selling has been notable: CEO Arash Adam Foroughi and CFO Matthew Stumpf recently sold shares, and insiders have sold 389,924 shares worth about $187.4 million in the last quarter.

World Investment Advisors lifted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 261.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,627 shares of the company's stock after buying an additional 4,071 shares during the quarter. World Investment Advisors' holdings in AppLovin were worth $3,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nalls Sherbakoff Group LLC purchased a new stake in shares of AppLovin in the fourth quarter worth about $270,000. Corient Private Wealth LLC grew its stake in AppLovin by 11.0% in the 4th quarter. Corient Private Wealth LLC now owns 144,579 shares of the company's stock worth $97,440,000 after buying an additional 14,271 shares in the last quarter. Pure Financial Advisors LLC grew its stake in AppLovin by 12.0% in the 4th quarter. Pure Financial Advisors LLC now owns 337 shares of the company's stock worth $227,000 after buying an additional 36 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in AppLovin by 31.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,461 shares of the company's stock worth $985,000 after buying an additional 346 shares in the last quarter. Finally, SHP Wealth Management purchased a new position in AppLovin in the 4th quarter worth approximately $52,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. KeyCorp set a $775.00 price target on shares of AppLovin in a research note on Wednesday. Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Finally, Argus assumed coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a "buy" rating and a $520.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $669.62.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Insider Activity

In related news, CEO Arash Adam Foroughi sold 22,544 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the transaction, the chief executive officer owned 2,327,684 shares in the company, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 389,924 shares of company stock worth $187,404,946. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

NASDAQ:APP opened at $496.77 on Friday. The stock has a market cap of $166.88 billion, a P/E ratio of 42.68, a price-to-earnings-growth ratio of 0.78 and a beta of 2.45. The firm's fifty day simple moving average is $482.88 and its 200 day simple moving average is $520.84. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results 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. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The firm's revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, research analysts predict that AppLovin Corporation will post 15.86 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.