AppLovin Corporation $APP Stake Boosted by Leeward Financial Partners LLC

Leeward Financial Partners LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 489.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,637 shares of the company’s stock after acquiring an additional 5,511 shares during the period. AppLovin accounts for 1.3% of Leeward Financial Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Leeward Financial Partners LLC’s holdings in AppLovin were worth $4,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Revolve Wealth Partners LLC bought a new stake in AppLovin in the fourth quarter worth $294,000. Bison Wealth LLC bought a new stake in AppLovin in the fourth quarter worth $239,000. Integrated Wealth Concepts LLC boosted its holdings in AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after purchasing an additional 621 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in AppLovin by 5.7% in the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and a $720 price target on AppLovin, helping push the stock sharply higher as investors reacted to the upgraded bullish tone. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Reports also said Meta Platforms is not expected to bid on certain mobile ad traffic, which could leave more market share and pricing opportunity for AppLovin in mobile advertising. AppLovin (APP) Stock Trades Up, Here Is Why
• Neutral Sentiment: Additional market chatter highlighted AppLovin as one of the stocks making big moves and one of the day’s top performers, reinforcing the momentum behind the shares. Stocks making big moves yesterday: Allient, AutoZone, Redwire, Marvell Technology, and AppLovin
• Negative Sentiment: AppLovin CTO Vasily Shikin disclosed multiple stock sales totaling tens of thousands of shares at prices around the mid-$480s, trimming his holdings by a meaningful amount; insider selling can sometimes weigh on sentiment. Vasily Shikin insider transaction filings

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APP shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. The Goldman Sachs Group decreased their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Argus started coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective for the company. Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Stock Up 10.4%

AppLovin stock opened at $567.83 on Thursday. The firm has a market cap of $190.76 billion, a price-to-earnings ratio of 48.78, a P/E/G ratio of 0.84 and a beta of 2.37. 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 fifty-two week low of $320.00 and a fifty-two week high of $745.61. The firm has a fifty day moving average price of $450.35 and a two-hundred day moving average price of $521.20.

AppLovin (NASDAQ:APP) last released 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue was up 58.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 EPS. As a group, analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the transaction, the chief technology officer directly owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. This represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 454,964 shares of company stock valued at $213,046,785 in the last quarter. 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.