Aptus Capital Advisors LLC Buys 12,426 Shares of AppLovin Corporation $APP

Aptus Capital Advisors LLC raised its stake in AppLovin Corporation (NASDAQ:APP) by 59.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,471 shares of the company’s stock after acquiring an additional 12,426 shares during the period. Aptus Capital Advisors LLC’s holdings in AppLovin were worth $22,553,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of APP. Vanguard Group Inc. lifted its stake in AppLovin by 39.4% in the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after buying an additional 7,051,663 shares in the last quarter. State Street Corp lifted its stake in AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Norges Bank bought a new position in AppLovin in the fourth quarter valued at approximately $2,040,321,000. Capital Research Global Investors bought a new position in AppLovin in the third quarter valued at approximately $743,899,000. Finally, Northern Trust Corp lifted its stake in AppLovin by 46.8% in the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after buying an additional 756,660 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 3.8%

AppLovin stock opened at $496.77 on Friday. The firm has a 50-day moving average of $482.88 and a 200-day moving average of $520.84. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. 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 company has a market cap of $166.88 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 0.81 and a beta of 2.45.

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

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the transaction, the chief executive officer directly owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 389,924 shares of company stock valued at $187,404,946 in the last 90 days. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Wednesday. UBS Group lowered their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $669.62.

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.