Stephens Inc. AR Has $6.81 Million Stake in AppLovin Corporation $APP

Stephens Inc. AR trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 25.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,104 shares of the company’s stock after selling 3,500 shares during the period. Stephens Inc. AR’s holdings in AppLovin were worth $6,808,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mediolanum International Funds Ltd boosted its holdings in shares of AppLovin by 73.5% in 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 during the period. Allworth Financial LP boosted its holdings in shares of AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after acquiring an additional 3,438 shares during the period. CIBC Asset Management Inc boosted 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 period. APG Asset Management N.V. bought a new position in shares of AppLovin in the third quarter worth $4,958,000. Finally, Trek Financial LLC boosted its holdings in shares of AppLovin by 851.6% in the third quarter. Trek Financial LLC now owns 9,630 shares of the company’s stock worth $6,920,000 after acquiring an additional 8,618 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction 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 directly owned 30,658 shares of the company’s stock, valued at $14,638,275.26. This represents a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 365,244 shares of company stock valued at $169,584,607. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $501.00 on Monday. The firm has a market capitalization of $168.31 billion, a price-to-earnings ratio of 43.04, a P/E/G ratio of 0.81 and a beta of 2.37. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The stock has a fifty day moving average of $447.26 and a 200 day moving average of $528.32. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. On average, research analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. The Goldman Sachs Group cut their price target on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, May 7th. Scotiabank raised their price target on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price target on AppLovin in a report on Thursday, February 12th. Finally, Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

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.