CSM Advisors LLC Buys Shares of 2,995 AppLovin Corporation $APP

CSM Advisors LLC bought a new stake in AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 2,995 shares of the company’s stock, valued at approximately $2,153,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in APP. Lazard Freres Gestion S.A.S. acquired a new stake in AppLovin in the third quarter valued at about $2,514,000. Mediolanum International Funds Ltd raised its stake in AppLovin by 73.5% during the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock worth $54,664,000 after acquiring an additional 32,510 shares in the last quarter. Thames Capital Management LLC raised its stake in AppLovin by 114.8% during the third quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after acquiring an additional 8,925 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of AppLovin by 14.8% in the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock worth $84,160,000 after acquiring an additional 15,074 shares during the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of AppLovin in the third quarter worth about $4,958,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. BTIG Research decreased their target price on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Weiss Ratings downgraded shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Wells Fargo & Company dropped their price target on AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Finally, Arete Research set a $340.00 price objective on AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $654.50.

Insider Activity

In related news, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was 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 of the company’s stock, valued at $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 available at the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the sale, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 188,033 shares of company stock valued at $90,662,374 in the last ninety days. 13.66% of the stock is owned by company insiders.

AppLovin Stock Performance

NASDAQ:APP opened at $453.30 on Tuesday. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. The company has a 50 day simple moving average of $490.72 and a two-hundred day simple moving average of $574.61. The company has a market capitalization of $152.89 billion, a PE ratio of 46.49, a P/E/G ratio of 0.81 and a beta of 2.51. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.35. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. AppLovin’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 earnings per share. Research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share 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.