Prudential PLC Grows Stock Holdings in AppLovin Corporation $APP

Prudential PLC raised its position in AppLovin Corporation (NASDAQ:APPFree Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,639 shares of the company’s stock after acquiring an additional 1,689 shares during the quarter. Prudential PLC’s holdings in AppLovin were worth $31,426,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vise Technologies Inc. raised its stake in AppLovin by 20.2% in the fourth quarter. Vise Technologies Inc. now owns 5,947 shares of the company’s stock worth $4,007,000 after buying an additional 998 shares in the last quarter. Transatlantique Private Wealth LLC raised its stake in AppLovin by 15.2% in the fourth quarter. Transatlantique Private Wealth LLC now owns 386 shares of the company’s stock worth $260,000 after buying an additional 51 shares in the last quarter. Marietta Investment Partners LLC raised its stake in AppLovin by 2.2% in the fourth quarter. Marietta Investment Partners LLC now owns 7,642 shares of the company’s stock worth $5,149,000 after buying an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC bought a new position in AppLovin in the fourth quarter worth about $387,000. Finally, WCG Wealth Advisors LLC bought a new position in AppLovin in the fourth quarter worth about $18,008,000. 41.85% of the stock is owned by institutional investors.

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Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 2,889 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $488.90, for a total value of $1,412,432.10. Following the sale, the chief technology officer owned 17,945 shares in the company, valued at approximately $8,773,310.50. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. This trade represents a 1.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 464,016 shares of company stock worth $218,477,985 in the last ninety days. 13.66% of the stock is owned by company insiders.

AppLovin Price Performance

Shares of APP opened at $558.87 on Friday. The stock has a market cap of $187.75 billion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 0.93 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The firm’s 50-day simple moving average is $468.02 and its two-hundred day simple moving average is $521.18.

AppLovin (NASDAQ:APPGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 earnings per share. Analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

APP has been the subject of a number of research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, February 12th. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Wells Fargo & Company increased their price target on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $664.35.

View Our Latest Research Report on AppLovin

AppLovin Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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