Motley Fool Asset Management LLC Buys 8,400 Shares of AppLovin Corporation $APP

Motley Fool Asset Management LLC raised its stake in AppLovin Corporation (NASDAQ:APP) by 36.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,738 shares of the company’s stock after purchasing an additional 8,400 shares during the quarter. AppLovin makes up about 0.8% of Motley Fool Asset Management LLC’s portfolio, making the stock its 22nd biggest holding. Motley Fool Asset Management LLC’s holdings in AppLovin were worth $21,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Washington Trust Advisors Inc. boosted its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Board of the Pension Protection Fund bought a new position in shares of AppLovin during the 4th quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $32,000. Finally, Graney & King LLC bought a new position in shares of AppLovin during the 3rd quarter worth approximately $36,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on APP. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. UBS Group reduced their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group reduced their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

AppLovin Stock Performance

APP opened at $520.84 on Wednesday. The business has a fifty day simple moving average of $476.67 and a 200 day simple moving average of $521.50. The company has a market capitalization of $174.97 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 0.92 and a beta of 2.45. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last released its quarterly earnings results 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 business had revenue of $1.84 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $1.67 EPS. Research analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Insiders Place Their Bets

In related news, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the sale, the director directly owned 123,520 shares in the company, valued at $71,893,580.80. The trade was a 2.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 347,372 shares of company stock worth $164,641,603 over the last three months. 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.