Leonteq Securities AG Grows Stock Position in AppLovin Corporation $APP

Leonteq Securities AG increased its stake in AppLovin Corporation (NASDAQ:APP) by 142.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,218 shares of the company’s stock after acquiring an additional 4,235 shares during the period. Leonteq Securities AG’s holdings in AppLovin were worth $2,873,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after purchasing an additional 166,117 shares during the period. State Street Corp increased its stake in shares of AppLovin by 0.4% in the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after buying an additional 52,377 shares during the period. Geode Capital Management LLC raised its holdings in AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after buying an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after buying an additional 212,349 shares during the last quarter. Finally, Morgan Stanley boosted its position in AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after buying an additional 538,806 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Down 6.7%

NASDAQ:APP opened at $527.06 on Friday. The company has a 50-day moving average price of $500.97 and a 200-day moving average price of $504.62. AppLovin Corporation has a 12 month low of $325.58 and a 12 month high of $745.61. 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 cap of $177.06 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 0.91 and a beta of 2.49.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $1.67 EPS. The company’s revenue for the quarter was up 58.9% compared to the same quarter last year. Equities analysts predict that AppLovin Corporation will post 15.96 EPS for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of a number of analyst reports. Argus initiated coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. KeyCorp set a $775.00 target price on shares of AppLovin in a report on Wednesday, June 10th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Raymond James Financial assumed coverage on AppLovin in a report on Monday. They set a “strong-buy” rating and a $640.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $668.27.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the transaction, the director owned 123,520 shares in the company, valued at approximately $71,893,580.80. This represents a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the transaction, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. This represents a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 389,924 shares of company stock worth $195,693,875. 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.