Nisa Investment Advisors LLC Boosts Stock Position in AppLovin Corporation $APP

Nisa Investment Advisors LLC increased its position in AppLovin Corporation (NASDAQ:APP) by 97.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,988 shares of the company’s stock after acquiring an additional 21,694 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AppLovin were worth $29,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Chilton Capital Management LLC bought a new position in shares of AppLovin in the third quarter worth approximately $29,000. Board of the Pension Protection Fund bought a new stake in shares of AppLovin during the 4th quarter valued at $27,000. Activest Wealth Management raised its position in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in shares of AppLovin during the 3rd quarter valued at $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on APP shares. Citigroup lowered their price objective on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $650.00 target price (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $668.20.

AppLovin Stock Up 7.0%

Shares of APP opened at $398.00 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The stock has a market capitalization of $134.24 billion, a price-to-earnings ratio of 40.82, a price-to-earnings-growth ratio of 0.64 and a beta of 2.51. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The business’s 50 day simple moving average is $448.49 and its 200-day simple moving average is $566.97.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. AppLovin’s quarterly revenue was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 earnings per share. As a group, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 5,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares in the company, valued at approximately $14,638,275.26. This trade represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is currently owned by corporate insiders.

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.