Blue Jean Financial LLC Invests $3.13 Million in AppLovin Corporation $APP

Blue Jean Financial LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the fourth quarter, Holdings Channel.com reports. The fund acquired 4,646 shares of the company’s stock, valued at approximately $3,131,000. AppLovin accounts for 2.5% of Blue Jean Financial LLC’s holdings, making the stock its 5th largest holding.

A number of other hedge funds have also recently modified their holdings of APP. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin in the fourth quarter valued at about $27,000. Washington Trust Advisors Inc. grew its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at about $32,000. Graney & King LLC purchased a new stake in shares of AppLovin in the third quarter valued at about $36,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on APP shares. Oppenheimer dropped 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. KeyCorp set a $775.00 price objective on shares of AppLovin in a report on Wednesday. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Wells Fargo & Company upped their price objective on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Insider Buying and Selling at AppLovin

In other news, 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 transaction of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer directly owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This represents a 0.96% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 389,924 shares of company stock valued at $187,404,946. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Up 3.8%

NASDAQ APP opened at $496.77 on Friday. The firm’s 50-day moving average is $482.88 and its two-hundred day moving average is $520.84. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $166.88 billion, a P/E ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45.

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

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

About AppLovin

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.