AppLovin Corporation $APP is EFG Asset Management North America Corp.’s 9th Largest Position

EFG Asset Management North America Corp. trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 24.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,672 shares of the company’s stock after selling 4,469 shares during the period. AppLovin accounts for 1.3% of EFG Asset Management North America Corp.’s holdings, making the stock its 9th biggest holding. EFG Asset Management North America Corp.’s holdings in AppLovin were worth $9,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in AppLovin during the second quarter worth about $26,000. LFA Lugano Financial Advisors SA acquired a new position in AppLovin in the second quarter valued at approximately $26,000. Chilton Capital Management LLC purchased a new stake in AppLovin in the 3rd quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC purchased a new stake in AppLovin in the 2nd quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on APP shares. Weiss Ratings cut shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. Royal Bank Of Canada lifted their price objective on shares of AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Evercore ISI began coverage on shares of AppLovin in a research note on Wednesday, January 14th. They set an “outperform” rating and a $835.00 target price on the stock. Citigroup dropped their target price on AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Scotiabank upped their price target on AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $706.45.

AppLovin Trading Up 2.1%

Shares of AppLovin stock opened at $535.44 on Tuesday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The firm has a market capitalization of $180.95 billion, a PE ratio of 64.98, a P/E/G ratio of 1.73 and a beta of 2.50. The firm’s 50-day moving average price is $634.72 and its 200 day moving average price is $563.64.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of AppLovin stock in a transaction on Monday, November 10th. The stock was sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the sale, the director directly owned 7,133,292 shares in the company, valued at approximately $4,643,131,095.72. This trade represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is owned by insiders.

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.