Inspire Investing LLC Boosts Stake in AppLovin Corporation $APP

Inspire Investing LLC grew its position in shares of AppLovin Corporation (NASDAQ:APP) by 20.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,893 shares of the company’s stock after buying an additional 2,173 shares during the quarter. Inspire Investing LLC’s holdings in AppLovin were worth $5,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 acquiring an additional 24 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in AppLovin during the fourth quarter worth $27,000. Mcguire Capital Advisors Inc. bought a new stake in AppLovin during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC purchased a new position in AppLovin in the fourth quarter worth $32,000. Finally, Graney & King LLC purchased a new position in AppLovin in the third quarter worth $36,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group decreased their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. BTIG Research reaffirmed a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their target price on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $668.27.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 22,544 shares of AppLovin stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the transaction, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 389,924 shares of company stock worth $195,693,875 in the last 90 days. 13.66% of the stock is owned by company insiders.

AppLovin Stock Up 4.5%

AppLovin stock opened at $498.76 on Tuesday. The firm has a 50 day simple moving average of $497.65 and a 200 day simple moving average of $508.03. 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 1-year low of $325.58 and a 1-year high of $745.61. The firm has a market capitalization of $167.55 billion, a price-to-earnings ratio of 42.85, a P/E/G ratio of 0.77 and a beta of 2.45.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business posted $1.67 earnings per share. The business’s quarterly revenue was up 58.9% on a year-over-year basis. On average, analysts predict that AppLovin Corporation will post 15.97 earnings per share for the current 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.