Perigon Wealth Management LLC Has $10.30 Million Holdings in AppLovin Corporation $APP

Perigon Wealth Management LLC lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 41.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,336 shares of the company’s stock after selling 10,291 shares during the period. Perigon Wealth Management LLC’s holdings in AppLovin were worth $10,301,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in APP. Concurrent Investment Advisors LLC boosted its holdings in shares of AppLovin by 31.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock worth $1,627,000 after acquiring an additional 1,114 shares in the last quarter. Aberdeen Group plc raised its position in AppLovin by 6.5% in the 2nd quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after purchasing an additional 7,001 shares during the last quarter. Legal Advantage Investments Inc. acquired a new position in AppLovin in the second quarter worth $1,523,000. IFM Investors Pty Ltd grew its holdings in shares of AppLovin by 15.6% during the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after purchasing an additional 6,104 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of AppLovin by 30.6% in the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after buying an additional 4,890 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research analyst reports. Oppenheimer set a $740.00 price objective on shares of AppLovin in a report on Tuesday, October 7th. Benchmark upped their target price on shares of AppLovin from $700.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Nineteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $695.90.

AppLovin Stock Performance

APP stock opened at $714.23 on Friday. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The company has a market cap of $241.37 billion, a P/E ratio of 86.68, a price-to-earnings-growth ratio of 3.83 and a beta of 2.51. The business’s fifty day moving average is $629.93 and its 200-day moving average is $523.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 earnings per share. Equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the sale, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director directly owned 2,829 shares in the company, valued at approximately $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 340,336 shares of company stock worth $200,062,623 over the last three months. Company 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.