AppLovin Corporation $APP Shares Acquired by Xponance Inc.

Xponance Inc. increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 19.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 57,034 shares of the company’s stock after buying an additional 9,436 shares during the quarter. Xponance Inc.’s holdings in AppLovin were worth $40,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC grew its stake in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of AppLovin by 2.8% in the third quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after purchasing an additional 19 shares during the last quarter. Optas LLC lifted its holdings in shares of AppLovin by 2.5% during the third quarter. Optas LLC now owns 877 shares of the company’s stock worth $630,000 after purchasing an additional 21 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in AppLovin by 19.6% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock valued at $96,000 after buying an additional 22 shares during the last quarter. Finally, Avestar Capital LLC increased its holdings in AppLovin by 2.1% in the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock worth $391,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. BTIG Research lowered their price target on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. The Goldman Sachs Group reduced their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Piper Sandler restated an “overweight” rating and issued a $650.00 target price (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Finally, Jefferies Financial Group dropped their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Twenty-one investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $651.77.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction on Monday, December 8th. The shares were 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 of the company’s stock, valued at $1,961,402.28. This trade represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $444.93 on Friday. The firm has a market cap of $150.36 billion, a PE ratio of 45.63, a P/E/G ratio of 0.87 and a beta of 2.49. The business has a 50-day moving average price of $545.19 and a 200 day moving average price of $570.96. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The business’s revenue was up 66.0% compared to the same quarter last year. Sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal 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.