Kelly Lawrence W & Associates Inc. CA Takes $11.67 Million Position in AppLovin Corporation $APP

Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,648 shares of the company’s stock, valued at approximately $11,669,000. AppLovin accounts for about 2.5% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 15th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APP. Verdence Capital Advisors LLC raised its stake in AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of AppLovin by 2.8% in the second quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock worth $438,000 after purchasing an additional 23 shares in the last quarter. Alta Wealth Advisors LLC grew its stake in shares of AppLovin by 0.6% in the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock worth $2,645,000 after purchasing an additional 24 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Finally, IMA Advisory Services Inc. raised its stake in shares of AppLovin by 40.0% during the first quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock valued at $33,000 after purchasing an additional 24 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APP has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price objective on shares of AppLovin from $585.00 to $465.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Phillip Securities raised shares of AppLovin from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Morgan Stanley dropped their price target on shares of AppLovin from $720.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. William Blair set a $440.00 price target on shares of AppLovin in a research note on Monday, August 17th. Finally, Needham & Company LLC decreased their price objective on shares of AppLovin from $700.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $553.83.

Insider Buying and Selling

In other news, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the transaction, the director owned 120,444 shares in the company, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 303,280 shares of company stock worth $153,835,185 in the last ninety days. Insiders own 12.81% of the company’s stock.

AppLovin Trading Down 2.3%

Shares of AppLovin stock opened at $298.59 on Tuesday. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11. The firm has a market cap of $99.92 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 0.62 and a beta of 2.54. The business has a fifty day simple moving average of $423.23 and a 200-day simple moving average of $446.84. AppLovin Corporation has a fifty-two week low of $297.50 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last released its earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.76. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.AppLovin’s revenue was up 52.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.39 earnings per share. On average, equities analysts forecast that AppLovin Corporation will post 15.53 EPS for the current fiscal year.

AppLovin Company 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.