Capital Impact Advisors LLC Increases Stock Holdings in AppLovin Corporation $APP

Capital Impact Advisors LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 56.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 61,829 shares of the company’s stock after buying an additional 22,200 shares during the period. AppLovin comprises 3.3% of Capital Impact Advisors LLC’s holdings, making the stock its 11th biggest position. Capital Impact Advisors LLC’s holdings in AppLovin were worth $41,662,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of AppLovin by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp lifted its position in shares of AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after buying an additional 52,377 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after buying an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after buying an additional 212,349 shares in the last quarter. Finally, Morgan Stanley raised its stake in AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after purchasing an additional 538,806 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 6.9%

Shares of APP opened at $479.49 on Thursday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The business has a fifty day moving average of $489.48 and a 200 day moving average of $519.07. The company has a market cap of $161.08 billion, a PE ratio of 41.19, a P/E/G ratio of 0.84 and a beta of 2.45. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping 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 net margin of 64.29% and a return on equity of 219.37%. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 earnings per share. On average, sell-side analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Analyst Ratings Changes

APP has been the topic of several recent analyst reports. Oppenheimer decreased their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Arete Research set a $340.00 target price on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Wells Fargo & Company lifted their target price on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Finally, Citigroup reissued a “buy” rating and set a $710.00 target price on shares of AppLovin in a research note on Monday, June 1st. 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’s stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $669.62.

Insider Activity

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of AppLovin stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the transaction, the chief executive officer directly owned 2,369,351 shares of the company’s stock, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,014 shares of company stock valued at $113,073,400 over the last ninety days. 13.66% of the stock is owned by corporate insiders.

About AppLovin

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.