Beck Bode LLC Cuts Stake in AppLovin Corporation $APP

Beck Bode LLC reduced its stake in AppLovin Corporation (NASDAQ:APP) by 9.5% during the fourth quarter, HoldingsChannel reports. The fund owned 14,871 shares of the company’s stock after selling 1,556 shares during the period. AppLovin comprises approximately 1.7% of Beck Bode LLC’s holdings, making the stock its 26th largest position. Beck Bode LLC’s holdings in AppLovin were worth $10,021,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC grew its stake in shares of AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after acquiring an additional 18 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Claro Advisors LLC grew its stake in shares of AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after acquiring an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC grew its stake in shares of AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $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.

AppLovin Trading Down 0.9%

Shares of NASDAQ:APP opened at $481.68 on Friday. The stock has a market capitalization of $161.82 billion, a price-to-earnings ratio of 41.38, 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. The stock’s 50-day simple moving average is $446.31 and its two-hundred day simple moving average is $523.95. AppLovin Corporation has a 52-week low of $320.00 and a 52-week 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, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $1.67 earnings per share. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. Analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated 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 $1,583,462,445.39. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock valued at $169,584,607 over the last quarter. 13.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on APP. UBS Group dropped their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Piper Sandler increased their price objective on AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Argus began coverage on AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Finally, Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

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.