Xponance Inc. Boosts Stock Position in AppLovin Corporation $APP

Xponance Inc. raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 19.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,034 shares of the company’s stock after purchasing an additional 9,436 shares during the quarter. Xponance Inc.’s holdings in AppLovin were worth $40,981,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APP. LFA Lugano Financial Advisors SA purchased a new position in AppLovin in the 2nd quarter worth about $26,000. Chilton Capital Management LLC bought a new position in AppLovin in the 3rd quarter worth about $29,000. Activest Wealth Management increased its position in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after acquiring an additional 38 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of AppLovin during the second quarter valued at approximately $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in shares of AppLovin in the third quarter valued at approximately $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on AppLovin from $735.00 to $543.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Citigroup cut their price target on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $650.00 price objective (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. BTIG Research cut their target price on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group lowered their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $651.77.

AppLovin Stock Performance

APP stock opened at $444.93 on Friday. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The firm has a market cap of $150.36 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 0.87 and a beta of 2.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The firm has a 50-day simple moving average of $545.19 and a two-hundred day simple moving average of $570.96.

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

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the sale, the director owned 2,829 shares in the company, valued at approximately $1,961,402.28. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 13.66% of the company’s stock.

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.