Novem Group Has $306,000 Stock Position in AppLovin Corporation $APP

Novem Group decreased its stake in AppLovin Corporation (NASDAQ:APP) by 76.3% during the 4th quarter, HoldingsChannel reports. The fund owned 454 shares of the company’s stock after selling 1,460 shares during the period. Novem Group’s holdings in AppLovin were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of APP. Revolve Wealth Partners LLC acquired a new stake in shares of AppLovin in the fourth quarter worth $294,000. Bison Wealth LLC acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $239,000. Integrated Wealth Concepts LLC grew its holdings in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on APP. Morgan Stanley set a $720.00 price objective on AppLovin in a report on Thursday, February 12th. Evercore reissued a “buy” rating on shares of AppLovin in a report on Friday, January 30th. BTIG Research decreased their price objective on AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of AppLovin in a report on Wednesday, March 11th. Finally, Wedbush lifted their price objective on AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $673.25.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 over the last ninety days. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Up 2.2%

NASDAQ APP opened at $483.71 on Thursday. The company has a market capitalization of $163.15 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 0.82 and a beta of 2.50. AppLovin Corporation has a 1-year low of $246.00 and a 1-year high of $745.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock’s 50 day moving average is $430.59 and its two-hundred day moving average is $542.24.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. Equities analysts forecast that AppLovin Corporation will post 15.72 earnings per share 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.