Kesler Norman & Wride LLC Takes Position in AppLovin Corporation $APP

Kesler Norman & Wride LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,624 shares of the company’s stock, valued at approximately $1,768,000.

Several other large investors have also modified their holdings of APP. Vanguard Group Inc. lifted its stake in shares of AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares during the last quarter. State Street Corp lifted its stake in shares of AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares during the last quarter. Norges Bank acquired a new position in AppLovin during the 4th quarter worth about $2,040,321,000. Capital Research Global Investors acquired a new position in AppLovin during the 3rd quarter worth about $743,899,000. Finally, Northern Trust Corp lifted its stake in AppLovin by 46.8% during the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after acquiring an additional 756,660 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 464,016 shares of company stock worth $218,477,985. Insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Argus assumed coverage on AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $664.35.

AppLovin Price Performance

Shares of NASDAQ APP opened at $605.63 on Wednesday. The stock’s 50-day moving average is $460.05 and its two-hundred day moving average is $520.92. 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 Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a market cap of $203.46 billion, a price-to-earnings ratio of 52.03, a price-to-earnings-growth ratio of 1.00 and a beta of 2.45.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $1.67 EPS. AppLovin’s revenue was up 58.9% on a year-over-year basis. Analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

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.