DeDora Capital Inc. Has $664,000 Position in AppLovin Co. (NASDAQ:APP)

DeDora Capital Inc. raised its stake in AppLovin Co. (NASDAQ:APP) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,596 shares of the company’s stock after buying an additional 166 shares during the quarter. DeDora Capital Inc.’s holdings in AppLovin were worth $664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Sapient Capital LLC purchased a new stake in shares of AppLovin during the fourth quarter worth $165,057,000. Vanguard Group Inc. raised its holdings in shares of AppLovin by 8.5% during the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after acquiring an additional 1,411,453 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of AppLovin by 4,805.9% during the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after acquiring an additional 1,374,066 shares in the last quarter. Norges Bank purchased a new stake in shares of AppLovin during the fourth quarter worth $43,973,000. Finally, First Trust Advisors LP raised its holdings in shares of AppLovin by 42.6% during the fourth quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after acquiring an additional 686,258 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

APP stock traded up $2.60 during trading on Friday, reaching $75.07. 2,974,643 shares of the stock were exchanged, compared to its average volume of 3,375,075. The stock has a 50 day simple moving average of $68.59 and a 200-day simple moving average of $51.10. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $25.67 billion, a P/E ratio of 75.07, a price-to-earnings-growth ratio of 1.44 and a beta of 1.85. AppLovin Co. has a twelve month low of $16.56 and a twelve month high of $79.55.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. AppLovin’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.52 earnings per share for the current year.

Insider Activity

In related news, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the transaction, the chief financial officer now owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,215 shares of company stock worth $4,416,815. 12.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BTIG Research increased their target price on shares of AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. UBS Group increased their target price on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Wedbush increased their target price on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Stifel Nicolaus increased their target price on shares of AppLovin from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Daiwa Capital Markets assumed coverage on shares of AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.60.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.