Kestra Private Wealth Services LLC Grows Position in AppLovin Corporation $APP

Kestra Private Wealth Services LLC raised its holdings in AppLovin Corporation (NASDAQ:APP) by 65.7% in the fourth quarter, Holdings Channel reports. The firm owned 9,024 shares of the company’s stock after purchasing an additional 3,579 shares during the period. Kestra Private Wealth Services LLC’s holdings in AppLovin were worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Pictet Asset Management Holding SA grew its stake in AppLovin by 1.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 108,484 shares of the company’s stock valued at $73,099,000 after purchasing an additional 1,866 shares during the period. Verdence Capital Advisors LLC grew its stake in AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Elevated Financial Group LLC bought a new position in AppLovin in the 4th quarter valued at $534,000. Sanctuary Advisors LLC grew its stake in AppLovin by 20.3% in the 4th quarter. Sanctuary Advisors LLC now owns 36,030 shares of the company’s stock valued at $24,278,000 after purchasing an additional 6,071 shares during the period. Finally, Quent Capital LLC increased its holdings in AppLovin by 7.7% during the fourth quarter. Quent Capital LLC now owns 501 shares of the company’s stock worth $338,000 after buying an additional 36 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 2.4%

Shares of NASDAQ APP opened at $449.03 on Wednesday. AppLovin Corporation has a one year low of $246.00 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The business’s fifty day moving average price is $436.30 and its 200-day moving average price is $537.55. The stock has a market capitalization of $151.45 billion, a PE ratio of 46.05, a P/E/G ratio of 0.80 and a beta of 2.50.

AppLovin (NASDAQ:APP) last issued 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. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The business’s revenue for the quarter was up 66.0% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin Corporation will post 15.72 EPS for the current year.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% 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 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 over the last ninety days. 13.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Oppenheimer decreased their price objective on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Scotiabank raised their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of AppLovin in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $673.25.

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.