Oppenheimer Asset Management Inc. Sells 1,971 Shares of AppLovin Corporation $APP

Oppenheimer Asset Management Inc. decreased its position in AppLovin Corporation (NASDAQ:APP) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,587 shares of the company’s stock after selling 1,971 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AppLovin were worth $11,850,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APP. Board of the Pension Protection Fund bought a new position in AppLovin during the fourth quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in AppLovin during the third quarter valued at about $29,000. Activest Wealth Management grew its position in AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares during the period. Laurel Wealth Advisors LLC bought a new position in AppLovin during the fourth quarter valued at about $32,000. Finally, CBIZ Investment Advisory Services LLC grew its position in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $460.00 on Friday. The company has a 50-day simple moving average of $437.77 and a two-hundred day simple moving average of $536.27. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 12-month low of $286.85 and a 12-month high of $745.61. The firm has a market cap of $155.15 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 0.78 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $1.73 earnings per share. The business’s revenue was up 66.0% on a year-over-year basis. On average, equities analysts forecast that AppLovin Corporation will post 15.72 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on APP shares. Benchmark restated a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Evercore restated a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Arete Research set a $340.00 price target on shares of AppLovin and gave the company a “neutral” rating in a research report on Monday, March 2nd. Argus started coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. Finally, Oppenheimer reduced their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $673.25.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares in the company, valued at $14,638,275.26. The trade was a 14.58% 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, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on 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 sale, 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 position. 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 quarter. Corporate insiders own 13.66% of the company’s stock.

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.