Aware Super Pty Ltd as trustee of Aware Super Makes New $16.30 Million Investment in AppLovin Corporation $APP

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in AppLovin Corporation (NASDAQ:APP) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 40,952 shares of the company’s stock, valued at approximately $16,299,000.

Several other hedge funds have also modified their holdings of APP. Allworth Financial LP raised its holdings in AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after buying an additional 3,438 shares during the period. Generate Investment Management Ltd purchased a new stake in AppLovin during the fourth quarter worth approximately $2,347,000. Calamos Advisors LLC grew its stake in AppLovin by 73.3% during the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock worth $32,840,000 after buying an additional 20,609 shares during the period. Capricorn Fund Managers Ltd acquired a new stake in shares of AppLovin in the fourth quarter worth $4,043,000. Finally, Overbrook Management Corp acquired a new stake in shares of AppLovin in the fourth quarter worth $10,179,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 393,000 shares of company stock valued at $197,297,363. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Down 4.0%

APP opened at $434.48 on Friday. The stock has a market capitalization of $145.96 billion, a PE ratio of 37.33, a P/E/G ratio of 0.74 and a beta of 2.49. The firm’s fifty day moving average price is $506.89 and its 200 day moving average price is $489.64. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 12-month low of $343.00 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The firm 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 was up 58.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 EPS. As a group, research analysts expect that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APP. Wells Fargo & Company increased their price target on AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. BTIG Research reaffirmed a “buy” rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $668.45.

About AppLovin

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.