Investment House LLC Has $33.94 Million Position in AppLovin Corporation $APP

Investment House LLC decreased its stake in AppLovin Corporation (NASDAQ:APP) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,370 shares of the company’s stock after selling 1,415 shares during the period. AppLovin comprises about 1.6% of Investment House LLC’s holdings, making the stock its 14th largest holding. Investment House LLC’s holdings in AppLovin were worth $33,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in AppLovin by 39.4% during the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after buying an additional 7,051,663 shares during the period. State Street Corp boosted its position in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after buying an additional 6,237,051 shares during the period. Rakuten Investment Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth approximately $1,456,108,000. Jennison Associates LLC raised its holdings in AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after purchasing an additional 1,381,970 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in AppLovin during the 3rd quarter worth approximately $743,899,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 3.1%

AppLovin stock opened at $476.90 on Wednesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The firm’s fifty day moving average is $446.43 and its 200 day moving average is $526.29. The company has a market capitalization of $160.21 billion, a PE ratio of 40.97, a PEG ratio of 0.80 and a beta of 2.37.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (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 the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company earned $1.67 EPS. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock worth $169,584,607 in the last quarter. Company insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. Jefferies Financial Group lowered their price target on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Piper Sandler raised their price target on shares of AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Argus assumed coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. One equities research analyst has 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

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.