Capital Impact Advisors LLC Grows Position in AppLovin Corporation $APP

Capital Impact Advisors LLC increased its stake in AppLovin Corporation (NASDAQ:APP) by 56.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,829 shares of the company’s stock after purchasing an additional 22,200 shares during the period. AppLovin makes up approximately 3.3% of Capital Impact Advisors LLC’s portfolio, making the stock its 11th biggest holding. Capital Impact Advisors LLC’s holdings in AppLovin were worth $41,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of AppLovin by 131.7% during the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the period. APG Asset Management N.V. purchased a new stake in shares of AppLovin during the third quarter valued at approximately $4,958,000. Franklin Resources Inc. boosted its stake in shares of AppLovin by 24.9% during the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock valued at $1,754,996,000 after purchasing an additional 487,492 shares during the period. TIAA Trust National Association boosted its stake in shares of AppLovin by 431.7% during the third quarter. TIAA Trust National Association now owns 52,749 shares of the company’s stock valued at $37,902,000 after purchasing an additional 42,829 shares during the period. Finally, Generate Investment Management Ltd purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $2,347,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Argus started coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research note on Tuesday, June 9th. Oppenheimer dropped their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Stock Performance

Shares of AppLovin stock opened at $479.49 on Thursday. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The business has a fifty day simple moving average of $489.48 and a two-hundred day simple moving average of $519.07. The firm has a market capitalization of $161.08 billion, a P/E ratio of 41.19, a P/E/G ratio of 0.84 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, beating 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 firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The company’s revenue was up 58.9% on a year-over-year basis. On average, equities analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 9,052 shares of AppLovin 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 completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. The trade was a 1.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 226,014 shares of company stock valued at $113,073,400 over the last ninety days. Insiders own 13.66% of the company’s stock.

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.