Cumberland Partners Ltd Has $4.04 Million Position in AppLovin Corporation $APP

Cumberland Partners Ltd grew its holdings in AppLovin Corporation (NASDAQ:APP) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,000 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Cumberland Partners Ltd’s holdings in AppLovin were worth $4,043,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mizuho Markets Americas LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $20,215,000. Legato Capital Management LLC acquired a new stake in AppLovin during the fourth quarter worth about $567,000. Lloyd Advisory Services LLC. acquired a new stake in AppLovin during the fourth quarter worth about $69,000. Advisory Alpha LLC acquired a new stake in AppLovin during the fourth quarter worth about $351,000. Finally, Evoke Wealth LLC grew its position in AppLovin by 44.0% during the fourth quarter. Evoke Wealth LLC now owns 1,025 shares of the company’s stock worth $691,000 after buying an additional 313 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 365,244 shares of company stock worth $169,584,607. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $481.68 on Friday. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The firm has a 50 day moving average of $446.31 and a 200-day moving average of $523.95. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $161.82 billion, a P/E ratio of 41.38, a price-to-earnings-growth ratio of 0.79 and a beta of 2.37.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. BTIG Research reissued a “buy” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Wedbush reissued an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Citigroup decreased their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group decreased their target price on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

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.