World Investment Advisors Acquires 1,468 Shares of AppLovin Corporation $APP

World Investment Advisors grew its holdings in AppLovin Corporation (NASDAQ:APP) by 26.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,095 shares of the company’s stock after purchasing an additional 1,468 shares during the period. World Investment Advisors’ holdings in AppLovin were worth $2,824,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in APP. Allworth Financial LP raised its stake in AppLovin by 131.7% in the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after acquiring an additional 3,438 shares during the period. Franklin Resources Inc. boosted its position in AppLovin by 24.9% during the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after purchasing an additional 487,492 shares during the period. Generate Investment Management Ltd bought a new position in AppLovin during the fourth quarter worth $2,347,000. Kinetic Partners Management LP increased its holdings in shares of AppLovin by 7.5% in the third quarter. Kinetic Partners Management LP now owns 128,106 shares of the company’s stock valued at $92,049,000 after purchasing an additional 8,930 shares during the last quarter. Finally, Calamos Advisors LLC raised its position in shares of AppLovin by 73.3% in the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after purchasing an additional 20,609 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on APP shares. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of AppLovin in a report on Thursday, May 28th. Wells Fargo & Company raised their price objective on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup restated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Argus started 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. Finally, JPMorgan Chase & Co. boosted their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.45.

AppLovin Price Performance

AppLovin stock traded down $15.72 during trading hours on Tuesday, reaching $528.07. 825,065 shares of the stock were exchanged, compared to its average volume of 5,488,476. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a twelve month low of $332.32 and a twelve month high of $745.61. The company has a market cap of $177.40 billion, a P/E ratio of 45.16, a price-to-earnings-growth ratio of 0.85 and a beta of 2.49. The stock has a 50 day moving average of $503.63 and a two-hundred day moving average of $502.64.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. Equities analysts expect that AppLovin Corporation will post 15.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the transaction, the director owned 123,520 shares in the company, valued at $71,893,580.80. The trade was a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 389,924 shares of company stock valued at $195,693,875 over the last ninety days. 13.66% of the stock is owned by insiders.

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.