Strive Asset Management LLC Purchases New Shares in AppLovin Corporation $APP

Strive Asset Management LLC acquired a new position in AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,434 shares of the company’s stock, valued at approximately $7,497,000. AppLovin makes up 0.2% of Strive Asset Management LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other large investors have also recently modified their holdings of the stock. Accuvest Global Advisors increased its position in shares of AppLovin by 64.4% during the third quarter. Accuvest Global Advisors now owns 1,969 shares of the company’s stock valued at $1,415,000 after buying an additional 771 shares during the period. Focus Partners Advisor Solutions LLC grew its holdings in shares of AppLovin by 68.3% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 3,373 shares of the company’s stock worth $2,282,000 after acquiring an additional 1,369 shares during the period. Kingsview Wealth Management LLC raised its position in shares of AppLovin by 6.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 929 shares of the company’s stock worth $668,000 after acquiring an additional 60 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its position in shares of AppLovin by 14.9% during the third quarter. Elo Mutual Pension Insurance Co now owns 21,439 shares of the company’s stock valued at $15,405,000 after purchasing an additional 2,784 shares in the last quarter. Finally, BCGM Wealth Management LLC purchased a new stake in AppLovin in the third quarter worth $242,000. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the transaction, the insider owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the sale, the director directly owned 2,829 shares in the company, valued at $1,961,402.28. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.66% of the stock is owned by insiders.

AppLovin Stock Down 0.4%

Shares of AppLovin stock opened at $432.98 on Tuesday. The company has a 50-day simple moving average of $533.45 and a two-hundred day simple moving average of $572.35. The stock has a market capitalization of $146.03 billion, a PE ratio of 44.41, a price-to-earnings-growth ratio of 0.89 and a beta of 2.49. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s quarterly revenue was up 66.0% compared to the same quarter last year. On average, analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. Jefferies Financial Group lowered their price objective on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. The Goldman Sachs Group decreased their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Weiss Ratings raised shares of AppLovin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Piper Sandler reaffirmed an “overweight” rating and set a $650.00 target price (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Monday, February 2nd. Twenty-one research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $658.14.

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.