Fiducient Advisors LLC Purchases New Holdings in AppLovin Corporation $APP

Fiducient Advisors LLC purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,630 shares of the company’s stock, valued at approximately $1,772,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CBIZ Investment Advisory Services LLC increased its position in shares of AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after acquiring an additional 18 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Claro Advisors LLC increased its position in shares of AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after acquiring an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC increased its position in shares of AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after acquiring an additional 21 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on APP shares. The Goldman Sachs Group decreased their price target on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday. Oppenheimer decreased their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, Piper Sandler raised their target price on AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

Insider Activity

In other news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. The trade was a 1.89% 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 the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction 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 of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 454,964 shares of company stock worth $213,046,785. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Performance

NASDAQ:APP opened at $599.89 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The business has a fifty day simple moving average of $453.17 and a two-hundred day simple moving average of $521.05. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The company has a market capitalization of $201.53 billion, a P/E ratio of 51.54, a P/E/G ratio of 0.92 and a beta of 2.37.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. The business’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period last year, the business posted $1.67 earnings per share. On average, analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current year.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

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.