AppLovin Corporation $APP Shares Acquired by First American Trust FSB

First American Trust FSB lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 382.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,765 shares of the company’s stock after acquiring an additional 1,399 shares during the quarter. First American Trust FSB’s holdings in AppLovin were worth $1,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. CBIZ Investment Advisory Services LLC increased its stake in shares of 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 acquiring an additional 17 shares during the period. Redhawk Wealth Advisors Inc. grew its position in AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares during the last quarter. Verdence Capital Advisors LLC grew its position in AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the last quarter. Claro Advisors LLC grew its position in AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after buying an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC grew its position in AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Citi added AppLovin to its “Upside 90-Day Catalyst Watch,” suggesting a near-term catalyst could help support the stock. Citi Adds “Upside 90-Day Catalyst Watch” on AppLovin Corporation (APP)
• Positive Sentiment: Analyst commentary remains constructive, with recent notes reaffirming bullish ratings and one article highlighting AppLovin’s recent gains and expected EPS growth of more than 40% annually over the next five years. AppLovin Corporation (APP) Up More Than 12% Over the Past Month, Here’s Why it is an Unstoppable Growth Stock

Wall Street Analyst Weigh In

APP has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Benchmark restated a “buy” rating on shares of AppLovin in a research report on Wednesday. Argus initiated coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. BTIG Research restated a “buy” rating and issued a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. 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 stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $669.62.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 sale, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 306,668 shares of company stock worth $145,923,868. 13.66% of the stock is currently owned by company insiders.

AppLovin Trading Down 5.3%

Shares of NASDAQ:APP opened at $492.98 on Thursday. The firm has a fifty day moving average of $479.09 and a two-hundred day moving average of $521.31. The firm has a market capitalization of $165.61 billion, a P/E ratio of 42.35, a price-to-earnings-growth ratio of 0.85 and a beta of 2.45. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. On average, equities analysts expect that AppLovin Corporation will post 15.86 EPS 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.