Profund Advisors LLC Raises Holdings in AppLovin Corporation $APP

Profund Advisors LLC boosted its position in AppLovin Corporation (NASDAQ:APP) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,642 shares of the company’s stock after buying an additional 1,478 shares during the period. AppLovin accounts for about 0.6% of Profund Advisors LLC’s holdings, making the stock its 27th largest holding. Profund Advisors LLC’s holdings in AppLovin were worth $19,300,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Board of the Pension Protection Fund purchased a new position in AppLovin in the 4th quarter valued at approximately $27,000. Washington Trust Advisors Inc. increased its stake in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Chilton Capital Management LLC purchased a new position in AppLovin in the 3rd quarter valued at approximately $29,000. Activest Wealth Management increased its stake in AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in AppLovin in the 4th quarter valued at approximately $32,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by insiders.

Analyst Ratings Changes

APP has been the subject of several research analyst reports. Morgan Stanley set a $720.00 price objective on AppLovin in a research note on Thursday, February 12th. Wells Fargo & Company increased their target price on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Citigroup lowered their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of AppLovin in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Price Performance

APP stock opened at $492.38 on Tuesday. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The stock’s fifty day simple moving average is $446.94 and its 200-day simple moving average is $527.38. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $165.41 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 0.81 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. Equities research analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

About AppLovin

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.