AppLovin Corporation $APP Shares Acquired by Twin Capital Management Inc.

Twin Capital Management Inc. grew its position in AppLovin Corporation (NASDAQ:APP) by 42.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,385 shares of the company’s stock after acquiring an additional 1,314 shares during the quarter. Twin Capital Management Inc.’s holdings in AppLovin were worth $2,955,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mediolanum International Funds Ltd boosted its holdings in shares of AppLovin by 73.5% in the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after acquiring an additional 32,510 shares during the period. Allworth Financial LP lifted its holdings in shares of AppLovin by 131.7% during the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after purchasing an additional 3,438 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of AppLovin by 14.8% during the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock worth $84,160,000 after purchasing an additional 15,074 shares during the period. APG Asset Management N.V. acquired a new stake in shares of AppLovin during the third quarter worth $4,958,000. Finally, Trek Financial LLC lifted its holdings in shares of AppLovin by 851.6% during the third quarter. Trek Financial LLC now owns 9,630 shares of the company’s stock worth $6,920,000 after purchasing an additional 8,618 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. BTIG Research reaffirmed a “buy” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. Scotiabank increased their price target on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Oppenheimer decreased their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Trading Up 1.1%

NASDAQ:APP opened at $482.28 on Thursday. The stock has a fifty day moving average price of $445.73 and a two-hundred day moving average price of $525.32. The stock has a market capitalization of $162.02 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 0.78 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61.

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

Insider Transactions at AppLovin

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 transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 365,244 shares of company stock valued at $169,584,607 in the last 90 days. 13.66% of the stock is currently owned by insiders.

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.