WBI Investments LLC Purchases Shares of 1,581 AppLovin Corporation $APP

WBI Investments LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,581 shares of the company’s stock, valued at approximately $1,136,000.

Other hedge funds have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in AppLovin during the 3rd quarter worth $29,000. Activest Wealth Management raised its position 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. Twin Peaks Wealth Advisors LLC acquired a new stake in AppLovin in the 2nd quarter valued at about $33,000. Heartwood Wealth Advisors LLC purchased a new position in shares of AppLovin in the 3rd quarter valued at about $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value 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. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 5,231 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the completion of the sale, the chief technology officer directly owned 30,658 shares of the company’s stock, valued at $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 188,033 shares of company stock valued at $90,662,374 in the last three months. 13.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Scotiabank lifted their price target on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a report on Thursday, February 12th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Finally, Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $654.50.

AppLovin Price Performance

Shares of APP opened at $459.09 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The stock has a market cap of $154.84 billion, a PE ratio of 47.09, a price-to-earnings-growth ratio of 0.80 and a beta of 2.51. The firm has a fifty day moving average price of $487.56 and a 200 day moving average price of $574.47.

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 the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company posted $1.73 earnings per share. The business’s quarterly revenue was up 66.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

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.